Does a good school district really matter? That is a frequently asked question that many home hunters ask
REALTORS. When people plan on buying a place, they carry a mental list of things that are important and are an influence in their decision. For them, the top of the list is conquered by a) the curb appeal of the house, b) the age of the property and c) the distance of the house from amenities. That has been a stubborn trend for years, but now the importance of a house that is in close proximity to a good school district is slowly making its way to the top of this list.
I Hear This A lot!
“School districts only attract families with school going children.” I can confidently say this is a myth. I have had a lot of clients who have no children and yet still prefer homes in Jupiter and Palm Beach because of the great schooling in the area. Stats have a lot to say about this too. 20% of home buyers will readily increase their budget just to get a home within the boundary of a good school district, and in a recent survey 51% of buyers, when given the choice of proximity to a great shopping and dining establishment vs. a small home in the bounds of a good school district, happily opted for the latter.
So Why Do We Prefer School Districts?
It started out with families looking for good schools for their kids and planning on settling there for more than a decade. Honestly, with all the hype of ‘great school districts’ on maps and reviews, many of the people I meet with even think that the high home prices means the school must be excellent and probably even superior. School districts are relatively safe and peaceful areas, and anyone looking to settle or start a family definitely has every good Realtor’s go ahead on this. Moreover, talking to my clients, I have noticed a trend that people are usually looking to buy a home in an area that encourages community activities and comfortable neighborhoods (apparently that is a trendy quality feature too these days). All these options narrow down their choices to a great school district. According to one of my clients, when you are comfortable in your home, your domestic life will be constantly happy and that is a huge factor in the assurance that your children get the best standard of education. Keeping all this in mind, the increased prices of the limited homes within the bounds of a good school district does not even cover the worth.
So Is The Price Right?
When it comes to real estate pricing, the good school districts definitely add value to the place thus raising the property price too. You may wonder why that is so. It all has to do with supply and demand where right now the demand for homes within a good school district has reached a point where there are a limited number of homes available in such districts and many buyers who want them. Accordingly, the prices have automatically increased for this limited commodity.
Check out the “Market Insider” tab on my website for school information in different areas in Palm Beach County