Monday Market Report – Do Good Schools Equal Higher Home Values?

Have you ever wondered if living near a school alters the prices in the housing market? The home values surrounded by a school ranked highest by parents and teachers is $186,305 greater than a home that is not highly recognized among the community. Furthermore, 2015 test scores revealed that in areas where the home values were superior students earned test scores one-third higher than the state average. (1)

Why does the school’s ranking affect home value? Buyers are aware that schools play a valuable role in buying a home due to having school-aged children now or in the future, so living within the proximity of a school is helpful and convenient. They are also willing to buy a home above their budget for the right school, and home owners feel that being involved in a neighborhood with a variety of demographics is an appealing amenity, even if they personally do not have any children.

With home values being approximately schoolhouse$427,402 among 1,661 zip codes in a high performing school versus homes priced at only $241,096 in schools lacking high performance, the quality of the school increases the value of your home. They help isolate a home from market variations, therefore the property is a better investment. (1)

There are exceptional homes for sale in Downtown Orlando and the surrounding areas with high ranking schools. Although we as real estate agents are prohibited from describing a school based on its performance or recommending a specific location because of the school zone, you can research school rankings on various sites and determine which one is right for you.  You can find the school for a street address in Orange County  and then check out Orange County school grades based on your favorite properties currently for sale. Visiting the school and reaching out to parents in the community are additional recommendations to evaluate the sustainability of the school and your home.

Connect with me at kathryn@thinklivebe.com |407-494-2820 to find your dream home in the school district of your choice today!

1) Data provided by Attom Data Solutions 2015 report

 

Advertisements

Tell me what you think

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s