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Schools Can Be A Major Considerations In Purchasing A Home

By
Mortgage and Lending with George Souto NMLS #65149 FHA, CHFA, VA Mortgages NMLS #65149

A new school year is now at least a month underway.  So the impact schools have on a Buyer's decision of where to purchase a home has been on my mind, and how Schools Can Be A Major Considerations In Purchasing A Home

The quality of schools in a town or city have always played a major consideration for Buyers, especially Buyers with school age children. Schools also tend to have an impact on property values.  Buyers with children are many times willing to pay more for a property if it is in a school district considered to have quality schools, even if it means going over their desired budget. 

Besides the quality of schools, the location, and proximity also play a major roll on a Buyer's decision to purchase.  Parents are hesitant to send their children to a school located in what is considered a bad neighborhood, or if it involves a lengthy bus ride. 

In my opinion all schools have advantages and disadvantage, even those in locations which are not considered very desirable.  Both of my boys did not go to what would be considered the best public schools.  Middletown, CT is not considered one of the towns in Connecticut with one of the best public school systems. 

I could have sent my sons to one of the better private schools in town but choose not to.  I wanted both of them to receive the education and experiences in life which would prepare them not only with the education they would need to succeed in school, but to also prepare them for what they would face once they graduated as well.  For me other things were more important in considering where I would live. 

For my family I believe it was the right decision, and one I have never regretted making.  However, I do not consider myself the norm when it comes to the roll schools play in purchasing a property.  For most Buyers schools have been and will continue to be a major considerations in purchasing a home.

 

 

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 Info about the author:

George Souto NMLS# 65149 is a Loan Originator who can assist you with all your #FHA, #CHFA, and #Conventional #mortgage needs in Connecticut. George resides in Middlesex County which includes #Middletown, #Middlefield, #Durham, #Cromwell, #Portland, #Higganum, #Haddam, #East Haddam, #Moodus, #Chester, #Deep River, and #Essex. George can be contacted at (860) 573-1308 or gsouto@mccuemortgage.com

Posted by

George Souto
NMLS# 65149

C (860) 573-1308
CALL 7 Days/Wk
Fax (860) 760-6891

Email Me
About Me
My Blog

I am a Mortgage Loan Officer who can assist you with all your mortgage & refinancing needs in
CT, and RI

I can assist you with your Conventional,
FHA, CHFA, VA, USDA, & 203K loan programs.

I reside in Middlesex County which includes Middletown, Middlefield, Durham, Cromwell, Portland, Haddam. E. Haddam, Higganum, Chester, Essex, Deep River.

 

Comments (19)

William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

I have clients every year that ask for a certain school.  For many reasons

Sep 27, 2016 12:08 PM
Lisa Von Domek
Lisa Von Domek Team - Dallas, TX
....Experience Isn't Expensive.... It's Priceless!

Very true George Souto schools are an important consideration for many buyers.

Sep 27, 2016 12:10 PM
Noah Seidenberg
Coldwell Banker - Evanston, IL
Chicagoland and Suburbs (800) 858-7917

No doubt George, I have had people specify the areas based upon the school of choice for their kids.

Sep 27, 2016 12:17 PM
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

It's not generally a consideration with my clients, once in a while, but not the norm.  (mostly second homes are what I sell)

Sep 27, 2016 01:16 PM
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

Schools can be a critical factor for parents as well as others who want to live in a community of well educated people.

Sep 27, 2016 01:20 PM
Debe Maxwell, CRS
Savvy + Company (704) 491-3310 - Charlotte, NC
The RIGHT CHARLOTTE REALTOR!

Oh, that is definitely the case here too!  Schools are one of the top 1 or 2 criteria in Charlotte too!

Sep 27, 2016 02:28 PM
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Real Estate Agents - Luxury - Divorce

We are very fortunate in southeastern Wisconsin to have some exceptional school districts that are a magnet for new comers to the area.

Sep 27, 2016 08:51 PM
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Good morning George.  Yes, so true.  A recent study showed that property values in areas served by high rated schools are consistently better than those in lower rated ones.

Sep 27, 2016 09:42 PM
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Flower Mound, TX
Selling Homes Changing Lives

Good Morning George Souto - Schools is a major factor. It's what attracts most buyers to my area and keeps sellers in my school district in Flower Mound.

Sep 27, 2016 10:26 PM
Myrl Jeffcoat
Sacramento, CA
Greater Sacramento Realtor - Retired

For homebuyers with children, schools are an important consideration when purchasing a house.  And, even for those who don't have kids, it's important to understand that schools can impact property values.

Sep 28, 2016 02:31 AM
Dick Greenberg
New Paradigm Partners LLC - Fort Collins, CO
Northern Colorado Residential Real Estate

Hi George - You're right. While there is very little difference in quality within our school systems, most parents have definite preferences and it often is a key factor in making the decision.

Sep 28, 2016 05:18 AM
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good Morning George - it is indeed a consideration  but what you said is also a very strong consideration.  Our children need to be prepared for what awaits them in the world and job market.  Too much sheltering could cause some hard knocks later on.

Sep 29, 2016 01:23 AM
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

That is usually the first request I hear from buyers. they want to look based on the schools and what they have heard from their friends. It's a process.

Sep 29, 2016 12:07 PM
Evelyn Johnston
Friends & Neighbors Real Estate - Elkhart, IN
The People You Know, Like and Trust!

When I first bacame an agent, the schools were the main consideration. During the Bust years they just wanted to know where the best deal was. It has started back to the school thing now.

Sep 30, 2016 12:55 PM
Jennifer Fivelsdal
JFIVE Home Realty LLC | 845-758-6842|162 Deer Run Rd Red Hook NY 12571 - Rhinebeck, NY
Mid Hudson Valley real estate connection

George school is a major factor for home buyers with children.  I have seen buyers torn, they find the perfect home put then decide the school  was not right.  Parents will certainly make sacrifices fot their children.

Sep 30, 2016 02:54 PM
Larry Johnston
Broker, Friends & Neighbors Real Estate and Elkhart County Subdivisions, LLC - Elkhart, IN
Broker,Friends & Neighbors Real Estate, Elkhart,IN

Hi George Souto ,  We have many buyers who request area of their favorite schools.  Have a nice weekend.

Oct 01, 2016 02:45 AM
Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi
NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656 - New Lenox, IL
708.921.6331 - 40+ yrs experience

The quality of the school systems in your area should be a huge consideration for Buyers ... whether they have school-age children or not.  That quality dictates so much when it comes to home values, taxes, quality of life and more, George Souto ...  great post!  You can't emphasize this point enough ...

Gene

Oct 28, 2016 01:31 AM
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

In our area with so many immigrants the test score is the primarily motivation to determine where they want to live. People think sending children to top schools will make them better citizens.

Now, the better neighborhood home prices are way over most dual income professionals affordability, people realize there is a balance of  home quality and affordability. One can have one not the other. Want both?  Ha!

Oct 28, 2016 03:58 AM
Mike Bjork
Evolve Bank & Trust - Redondo Beach, CA

It does make a big impact with families.  When my son's elementary won the National Blue Ribbon Award last year, then there was a spike in interest in our neighborhood.  It did help the home prices!  I tell Agents, whom plog (property blogging), to make sure you mention schools, if they're relevant for your community.  It's one of the 5 words to use in the title for search engine optimization (along with name of neighborhood, zip code, city and area).  Thanks, George!

Oct 28, 2016 04:01 AM