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    Saturday, May 04, 2024

    Checking out the school district before buying

    Anyone searching for a new home has to consider not only the property where they'll live, but also the neighborhood and community as a whole. The quality of the school district is an especially important factor, even if you don't have any children who will be using it.

    Opinions on the most important aspects of a school district will vary from buyer to buyer. These factors may include test scores, class sizes, the condition of the school buildings, what extracurricular programs are offered, and how active parents are in school activities.

    If you do have children who will be entering one of the district's schools if you move to an area, there are several resources that can be of use to you. Researching the school online will pull up some information, including school ranking sites and reports on the school by the state's Department of Education.

    New Homes Guide says the school should have some materials available on various policies, including discipline and safety. They will also have an annual report to outline their budget and other information. You should be able to set up a meeting to visit the principal and tour the school.

    Deanna Lawley, writing for the real estate site HomeFinder, says finding a home in a good school district has an immediate financial benefit for parents. Moving to a place where the child can attend the public schools means you'll save thousands of dollars on private school tuition.

    Brendon Desimone, writing for the real estate site Zillow, says you'll likely have to pay a little extra to live in a good school district. If the schools in the community have a good reputation, more people-especially parents of young children-are likely to live there. The housing inventory will be scarcer, so the homes that are available will command higher prices.

    This can be beneficial in the long run, however. Lawley says a good school district not only results in higher property values, it also works to stabilize them. Desimone says that a home in a good school district will be able to retain its value even if sales prices in the housing market are declining.

    A house in an above average school district also has better resale value. There will be significant demand from parents looking to put their children into a good school, which means you'll be able to quickly find a buyer who is more likely to meet your price.

    Don't lose sight of your ultimate goals in buying a property. Desimone says that the school district should figure into your consideration of a home, whether you have children who will be using it or not. However, he says buyers should look for a home and location that best fit their needs, not just a town with great teachers.

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