Buying a home in a great school district is a smart move, even if you're not a parent. If you've been browsing online real estate listings or talking with your agent, you’ve likely seen or heard about local school ratings. School district ratings are one of the neighborhood lifestyle statistics you’ll often find in home-for-sale listings, along with data about walkability, crime and more.
If you don’t have kids, you might be tempted to skim over the school district info and stats—but don’t discount this valuable information. If you're not a parent, you might still want to consider buying a home in a “kid-friendly” Sacramento-area or Roseville neighborhood with highly-rated schools.
What a Good School District Means for Homeowners
Here’s why living in a good school district can be good for you as a potential area homeowner, and as an investor.
If you ever decide to sell, your future buyers might be parents.
Should you decide to sell in future, your buyers may very well be parents, and will be more willing to pay a premium for a house in a great school district.
If you put your home on the market in a top school district, you will have a great selling point to attract buyers with kids. Buyers with school-age children can justify paying more for your home, because they'll save money in other aspects of life, such as sending their kids to the excellent local public schools rather than expensive private schools.
You could enjoy better resale value.
Homes in good school districts score better in all aspects of the home sales process. Houses in neighborhoods know for good schools get more views on real estate websites, sell quickly, and command higher prices--than homes in poorly rated school zones.
In fact, a recent study from Realtor.com confirmed just how much more buyer interest these homes receive: more than 40 percent more potential buyers look at homes with good schools than those with poorly rated schools. Homes in good school districts can be valued nearly 50 percent higher than otherwise comparable homes. So you'll get more from your home investment in an area with good public schools, should you decide to sell in the coming years, than you would in other neighborhoods.
You’ll be living in a community with neighbors who care.
Good school districts are typically created by stable communities and local citizens who value a quality education for their children. Your future neighbors in a good school district will also be interested in keeping the neighborhood safe and attractively well-maintained. This is good for you while you live there--and also an advantage if you later sell, as mentioned above.
Housing market fluctuations are less likely to affect you.
Homes in top school districts, typically part of established neighborhoods, held value through the market downturn of a decade ago, as noted in the SF Chronicle at the time. Enduring and appreciating home value can bring you peace of mind for the future.
You'll see daily signs of a family-oriented neighborhood
The pleasant hallmarks of a good school district include seeing kids walking down your street in the mornings and afternoons, as well as the presence of plenty of dog walkers and neighbors involved in other friendly neighborhood pastimes. Good schools in the area generally provide an overall boost to the quality of life for all residents.
Your kids will enjoy a rich variety of activities.
Good school districts are likely to have a park right down the street (or many parks) plus green spaces, dog parks, soccer or baseball fields, libraries and more. Ignoring the perks of living in a good school district can be a home-buying mistake, even if having children isn’t on your radar, or your adult children have grown and moved out.
You’ll be prepared if you later decide to have kids, or if kids often visit your home.
Buying a home that fits you now and in the future is a wise move. If you become a parent in a few years, or become a very involved aunt, uncle or grandparent, your home and neighborhood will suit your family needs. Your neighborhood already has other nearby children for your kids to play with, good schools (of course) and amenities. There will be no great need to look for a new home and move again, as some homeowners must when family circumstances change.
Find the Best Mortgage Option for Your New Home
Home buying is a very personal decision. There are many considerations and trade-offs you'll need to weigh when choosing the right home to purchase, and including school district ratings can be helpful to parents and non-parents alike. Carefully weighing all your options is also crucial when it's time to apply for your mortgage pre-approval.
If you think you might be ready to start looking at homes, be prepared with your pre-approval letter first. Contact Point Equity and one of our mortgage advisors can help you get in the game.