There are a lot of factors to consider when buying a home: size, location, price…the list goes on. And if you have children, you’re probably interested in local schools, too. School districts matter more than you think when buying a home—and they can actually have an impact on resale value, too!
Why You Need to Consider School Districts in Your Home Search
School districts may not seem like a major factor in your home search if you don’t have children. However, quality of education can have a huge impact on home values and your local community! Here’s why you should keep schools in mind as you search for your perfect place.
Your kids will benefit
Of course, if you do have children, buying a home that’s zoned for A+ public schools is almost always worth it. Be sure to do your research ahead of time and evaluate all possible options, especially if your child has specific learning needs. You should also consider class size, graduation rate, and reviews from parents and students.
Here in Chattanooga, students primarily attend Hamilton County Schools. Within the district, there are also a variety of specialty institutions, such as the Chattanooga School for the Arts and Sciences, the STEM School Of Chattanooga, and the Chattanooga High School Center for Creative Arts. Our area also has a host of highly rated private and charter schools, too.
Schools directly impact home values
Home values seem to fluctuate all the time, especially as we continue to navigate these uncertain global events. However, the quality of education in a particular area can create stable, strong home values for years to come—and that’s a huge benefit, even if you don’t have children.
To put it simply, home values in neighborhoods zoned for great schools tend to increase, or at least remain stable. But if your area does happen to have lower school ratings, that doesn’t always mean your home is worth less. A poorly ranked district can still offer a high quality education, especially if competition is fierce.
Education can impact resale value
According to a recent Trulia survey, 19% of buyers stated that their dream home would be located in a top-notch school district. That number jumped up to 35% among parents with children under 18. So even if you don’t have kids yourself, your future buyers could—and making a smart investment now could pay off later.
Unsurprisingly, many homebuyers are willing to pay more for a home that’s zoned for great schools, which means you’ll enjoy a higher resale value. And as if that isn’t enough, homes located in top districts also tend to sell faster, too. So if you’re looking to build up some long term equity, you should definitely consider education during your home search.
Ready to Start Your Home Search?
If you’re eager to learn more about schools or homes in Chattanooga, I’d love to help! Just contact me, Julie Fisher, to jumpstart your real estate journey. I look forward to teaming up and finding your dream home.