School Districts are an important factor when considering new homes. It’s obvious for parents to search for home in areas with good school districts, but what about those who do not have children? For many reasons, including home value, it may not be a factor to brush aside.
When home buying, common factors to take into consideration are neighborhoods, proximity to work and entertainment, and potential resale value. Whether or not a buyer has or is considering children, they should keep in mind the school districts in the neighborhood they are interested in living.
School districts matter most because of resale value. Just because a buyer is not planning on having children does not mean that the next family will not. These days, many homeowners move around much more than they did in the past, often not remaining in the same home for 20 years.
Homebuyers should remember that while they will often pay more to live in a good school district, these homes may likely sale faster and at a greater value. The San Francisco Chronicle reported that two homes on a street divided into different districts, one excellent and one mediocre. The house in the better district could command around $100,000 greater resale. This article was reported in 2007, deep in a real estate slump.
While school districts should never be the only factor in choosing a home, it is something to keep in consideration, with or without children in the family.
