September 15th, 2015
When interested buyers decide to invest in a home, there are a few different factors they consider. The number of bedrooms, proximity to work and whether their favorite restaurant is nearby are some of the most important. Most "must-haves" are directly related to the lifestyle of the interested buyers. So, if hopeful homeowners do not have children, investing in a home in a good school district may not seem like a priority. However, it should be.
Preservation of a home's value
Good schools are important. When families look to purchase a home, they tend to pay more to be in an area where a quality school is located. In fact, a recent survey conducted by Trulia indicated 19 percent of Americans' dream homes are also located in a good school district. Limiting the survey to parents with children under the age of 18 raised the percentage to 35 percent.
Whether a homebuyer has children or not, buying a house near a good school supports and defends the resale value of the property.
Protection against market volatility
The housing market has improved a great deal since the crisis in 2008. Demand is high and construction spending continues to bolster the market. However, those looking to invest in homes who want to protect themselves from market volatility should consider the school district, according to Zillow.
A home within the bounds of an excellent school district will likely better retain its value if the value of real estate in general decreased sharply. Oftentimes it is a safer bet to invest in a house that has a valuable perk if it's necessary to sell the property later.
Investing in a neighborhood
According to Public School Review, investing in a home within a good school district often translates into living in a safer and better neighborhood. By default, finding a home near a high-performing school will also provide an interested homebuyer with a great location.
The possibility of having kids
Even if interested buyers are not currently thinking about having children, they may change their minds in the future. Investing in a home near a good school now will save these individuals a great deal of stress and hassle in the future.
Finding the right home
When investing in real estate, individuals must do ample research and enlist the help of a professional real estate agent to ensure they make the best decision possible. It's important for hopeful homeowners not to make assumptions when looking for a house.
Individuals must research the schools in the area and ensure they know exactly what the purchase of a specific house entails.
"In many states and communities like El Dorado Hills, a home may be situated in one particular district however because of overcrowding children are being bussed up to 2 hours away to attend school," noted Alexis Moore, a real estate broker, according to Public School Review. "So don't assume anything. This is a costly mistake because not only does it impact the children but home values. So assume nothing and research first."
In addition, interested buyers should not just consider public schools. Quality private schools nearby can offer many of the same benefits.
When investing in a home, individuals should ensure they are confident in the criteria they have established. Proximity to good schools is an important factor that everyone should consider, even if they do not currently have children. Adding it to the list will pay benefits in the long run.