If you are buying your first home, you may be tempted to make an offer for property located in a less than stellar school district. After all, condos and homes in good districts come at a premium, while the price for homes in neighborhoods with lower-rated school districts seem like a steal. But don’t make the mistake of buying in an area with a bad school district. Here are five reasons why:
A Good District Sells
Good school districts attract better teachers, offer nicer facilities, and produce higher test scores. These are not only great perks for children but will ensure faster home sale should you ever decide to move.
Bigger Pool of Buyers
Many buyers say they only search for homes in good school districts. In fact, a recent survey revealed that 35% of parents of kids under the age of 18 say they want to live in a great school district. So, even in an empty home, your home will sell more quickly if the school district rocks. Why limit your prospective buyers to people who will consider buying a home in an inferior school district?
More Bang for the Buck in a Better School District
Although potentially more expensive on the front end than homes in lesser school districts, houses in better districts hold their value more than homes in lower-quality school districts. What’s more, the amount of time on the market is in reverse proportion to school district ranking. And, in certain markets, the difference between resale in areas with good districts amounts to hundreds of thousands of dollars for similar homes in the same neighborhood.
Home improvement guru, Bob Villa, said this about desirability of school district relative to home sale:“9% of buyers say they would pay 11% to 20% above budget. Separately, 17% report they’d pay extra to be close enough that their kids could walk to and from school.”
Circumstances Could Change
Whether you are making a lifestyle choice to go childless or you would love to have kids someday but have not been able. Remember, the only thing that is constant is change. So, don’t make a home purchase based exclusively on your current situation.
Quality Matters & So Does School District
People who pay attention to school district have pride in ownership. In San Dimas, where So Cal Platinum Properties is located, the Bonita School District is highly revered. What’s more, if you drive through neighborhoods in the San Gabriel Valley, in and around San Dimas, you will notice an overriding sense of pride of ownership, which impacts resale value, not to mention quality of life.
About SoCal Platinum Properties, Inc.
If you are interested in buying or selling property in or around San Dimas, California and the surrounding area, don’t get caught in a Catch 22 — owning two homes or none at all. We list properties and advertise them to guarantee a swift sale for maximum profit. We also assist home buyers as they hunt for, make competitive offers, and purchase residential property. Realize your dream of homeownership, reduce your house payments to free up funds for whatever purpose you see fit. We offer the following refinance options: We offer the following Refinancing Programs: FHA Streamline, FHA Cash Out, FHA 203k, VA Streamline, VA Cash Out, Conventional, Commercial and Jumbo loans. Lock in your low rate today (213) 709-5178.