School may be out but that doesn't mean it should be off your mind in your search for a new home. Here's why buying in a good school district is an important aspect to buying a new home.
Quality Education for Future Success
If you happen to be a young family, or a couple planning to have children in the near future, and you are in the market to buy a home, certainly the ranking of the school district is a key factor. Parents who send their children to schools known for their high performance have better peace of mind, knowing their kids are being set up to succeed.
Even if you don't have school-age children, and aren't planning to have any, buying in a highly rated school district is a wise decision. A school's high rating often drives up the prices of homes in that district. In other words, an area in a highly rated school district will typically be seen as an excellent location. (And remember, real estate is all about location, location, location!) When the time comes to sell, your home will draw a higher price than similar homes in lower ranked districts.
As mentioned, when it comes to resale value, investing in a home in a highly rated school district can pay off. Not only do homes in higher-quality school districts sell more quickly, but during an economic decline, homes in such districts tend to hold their value better than those in lower-rated districts.
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