Buying a House in a Good School District Matters

Despite whether you have kids or not, buying a house in a good school district can still benefit you. The obvious benefits of better teachers, test scores,  and books are always there, but what you may not know, is that these good school districts can preserve the value of your home, and ensure a good turnaround time should you decide to sell.

Never overlook the value of a good school district, but keep in mind the pros and cons of them too. There are a few costs to evaluate when trying to find a good deal on a home, and finding a good education for your children. Finding a more expensive home in a public school district is often times a better deal than what could be found in some places for kids to attend private schools.  

Finding a good public school

It’s no surprise most buyers look for homes in good school districts; it’s a big factor in the big decision. But how can you be sure if this school district is c0onsidered one of the good ones? This is determined by the age of the school, condition of the property, student-to-teacher ratio, and standardized test scores.

The bigger picture

It’s not so easy to directly connect a school district and a quality home. If a school district isn’t ranked in the upper tiers, it doesn’t mean the quality of the local education is poor. Also consider private schools. Should you wish for your child to go to private schools, it is definitely possible to find a fairly priced home. When you do the math though, it can be quite expensive with a thousand dollar a month tuition bill, and a mortgage payment. Don’t forget all the other bills and unexpected things life can throw your way.

For example, a homeowner with a $1,300 mortgage payment on a $300,000 house, who is also paying $1,000 tuition payment, can also afford a more expensive home with a good public school education in a better school district. It goes without saying that you must do the math and ultimately decide what you can afford or not.

Think of the future

For buyers without children, investing in a home within a good school district will pay off during the resale. Homes in good school districts often sell faster than homes in lesser quality districts. During recessions, homes in better districts hold their value substantially better!

With this being said, it’s obvious which homes are more expensive. Buyers pay higher for the initial purchase, higher property taxes, and sometimes utilities. The property taxes go right back to the school, so people without children see no benefit other than the value of their home is higher.

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