School District Effect on Home Prices

It's almost back to school time! There is no doubt that anyone with children would be interested in living near the best schools in their town. However, districts affect more than just those with young families; they impact all homeowners in the surrounding area. This is what you should know about a school districts' effect on home prices, whether or not you plan on using the school system.

Neighborhood

Living in a good school district is a great indication that the neighborhood is top-notch. When it comes to real estate, it's all about location, location, location. Neighborhoods in good districts tend to be safer, more likely to be well taken care of, near restaurants, closer to urban areas and have easy access to transportation. This, in turn, increases the value of the homes in the surrounding area.

Home Value

Where there are good homes, great schools, and fantastic neighborhoods, you will find an increase in home values. And they tend to hold their value when the rest of the market is at a standstill. Whenever a large number of people want to live in the same area, demand drives prices up. If you are looking to sell a home in a good school district, you can logically ask a higher price for the house than a similar home in a less coveted school district. On the same note, if you're a buyer, you can expect to pay more for that great home, school district, and neighborhood.

Buying Without Children

Even if you don't plan on using the school system, the district should still be an important aspect of your home hunt. For all of the reasons above, it's clear that a good district brings a great community. There is also more opportunity to get involved with children and families in the community with a thriving school. You can search through districts and see their ratings at SchoolDigger.com.

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