Moving houses or purchasing a new home is never a light decision when you have school-age children to think about. Aside from obviously choosing a home that would fit a growing family’s needs and making sure that it fits the family’s budget, another thing to consider is the quality of nearby schools or whether the family is willing to have a long commute if nearby schools fall short of the family’s expectations.
Choosing a home based on school district is a huge deal for parents, with surveys stating that it is a top factor for 39% of aspiring buyers. It isn’t strange that for some home buyers, the quality of nearby schools can be a deal breaker for an otherwise dream home. If this sounds like you, the following are the top considerations for choosing a home based on school district.
Are you prepared to pay for the privilege of living in an amazing school district?
Homes in neighborhoods with high-ranking schools often cost a few hundred thousand dollars more compared to a similar piece of real estate a few miles away. In some instances, the price difference is enough to purchase a second home! This is why real estate in areas with great school districts are being scooped up as soon as they become available – because people know how much of a good investment they are!
With the above said, homes in school districts that also rank high though not at the top are not to be scoffed at. School rankings change based on a lot of factors so a home in an above average school district can be nearly as good.
It is worth it to look beyond rankings and results of standardized testings?
Schools are ranked according to how well their students performed on reading, writing, and math standardized tests plus other factors. It is possible for a school to have high-performing students for a few years in a row and get good ranking and then go a few ranks below the following years.
This is why considering other factors is important as well. An above average school with plenty of additional programs for foreign language learning, arts, or International Baccalaureate programs can give a child a better start in life as compared to a top-performing school focusing on just the academics.
Are you sure the schools nearby can accommodate your child?
Some top performing schools have a limited capacity due to their popularity, hence simply having the right address isn’t a guarantee that your child can attend a certain school. It is only wise to inquire if there are slots or limits before taking the leap and purchasing a home. The last thing you want is for you to pay for a premium home yet have your child needing to commute for hours a day to get to school.
Source: Miller, Brad. "Choose a Home Based on School District with These 3 Top Considerations." Realty Times. 30 April 2018. https://realtytimes.com/advicefromagents/item/1016935-choose-a-home-based-on-school-district-with-these-3-top-considerations?rtmpage=null
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