By Marina LocksJun 12, 2013
There are many factors that go into deciding where to purchase a home. At the top of many home-buyers’ list is the quality of the school district. This is an obvious concern for many parents and parents-to-be as attending a good public school is essential to their children’s future. It can also save you thousands of dollars that would otherwise be spent on private school tuition. School districts are also a concern for buyers who do not have children as they affect how much is paid in property tax and can greatly affect the resale value of a home.
How do I determine how good the school district is?
When evaluating a school district, there are a few things to take into consideration. Take a look at the quality, age, and facilities of the schools themselves. Look into how students perform on standardized tests. Check out the student-to-teacher ratio to see how much personalized attention the students receive. The amount of spending per pupil at the school will tell you how much of the budget is allocated for each student. Most importantly, talk to people who have lived in the area for a while and have children enrolled in the schools. You may even want to schedule an interview with a teacher or administrator at the school.
Advantages of Being in a Good School District
Whether you have children, are planning to, or are not planning to, it can be advantageous to purchase a home in a good school district. It is shown that houses in good school districts typically have higher resale values and sell faster. Typically, when housing markets go down, areas with high quality schools are more likely to hold their values.
School Districts If You Don’t Have Children
If you don’t have and aren’t planning to have children, living in a good school district definitely has its advantages as seen above. However, affordable homes can be hard to find in these areas as they typically sell faster than others. You might also want to take the amount you are paying in property taxes into consideration. Property taxes pay for local services that benefit residents in the area. Areas with good schools tend to have higher property taxes as a lot of the money is allocated to the schools.
As you can see, school districts are an important factor to consider when purchasing real estate. When deciding where to buy your home, remember that the most important consideration is what feels right for you and your family. The rest will fall into place.
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