Schools will have a big effect on property value and quality of life. For anyone who is purchasing a home, here are some reasons local school ratings matter – even if you don’t have kids.
5 Reasons School Ratings Are important (Regardless whether You Have Children or Not)
1.The subsequent buyer will consider school ratings, too As outlined by a recent National Association of REALTORS Profile of Home Buyers and Sellers, 25% of home buyers listed school quality and 20% listed proximity to schools as deciding factors in their home purchase. Another survey conducted by Realtor.com revealed that 91% of the individuals surveyed included school district boundaries in their decision-making process. You’ll probably be surprised to find out that not every one of the shoppers included in the studies had kids.
2.More money invested in schools means more money invested in homes You will find there’s correlation between school expenditures and home values in practically any given neighborhood, in line with the National Bureau of Economic Research. Their report, “School Spending Raises Property Values,” discovered that for every single dollar invested in public schools in a community, home values increased $20.
3.Higher school ratings equal higher home values A Brookings Institution study researched the 100 largest metro areas in the country and discovered an average difference of $205,000 in home prices between houses near high-performing and low-performing schools.
4.And good school ratings help homes maintain value While adjustments in the economic landscape and local area can ripple across the market, a great school district can often help insulate a home from market fluctuations.
5.Great school districts usually mean great neighborhoods Often there exists a correlation between super school districts and safer neighborhoods, better shopping and transportation and great public amenities – like parks. Each of these factors improve the overall desirability of the neighborhood, which equates to higher home values and a better deal for you whenever it’s time for you to sell.
Trying to find a home near a great school? Nick, Cindy & Nicholas Davis with RE/MAX Premier Group are here to assist you in getting started with our school finder search engine.