- Almost all parents consider school performance when buying houses
- Good schools help retain and grow the value of your real estate investments
- Don’t you want your children to get a good education?
The quality of schools is a prime factor in real estate buying decisions with families with children in school, but it’s also valuable for most everyone else.
We have a rental house in the Phoenix suburbs with a marketing strategy no more complicated that putting a “for rent” sign in the front yard on the rare occasions it becomes available.
That’s it. And that’s it in much less robust real estate markets than Las Vegas currently is experiencing.
No Craig’s list. No paying for procuring tenants. Nothing but a simple Home Depot sign. It’s generally gone in a couple of days.
It’s a nice place with a big yard and a pool, but Those are not the features that sell it.
It’s the school districts.
The house is in one of the best elementary school districts in Arizona and in one of the most sought-after high school attendance areas. If we ever decide to sell it — and we may never, as its value increases beats nearby areas outside those districts — that will be easy as well.
Las Vegas home buyers value good schools also
At an open house in Henderson, we got a similar sentiment about Coronado High School. Several of the interested families only would consider that school boundary area. Another buyer client gave us a list of school they would consider, and told us not to bother looking elsewhere.
When it comes to “location, location, location,” good schools are often top on the list.
A Realtor.com survey confirms what has been obvious to me for years.
Schools sell. Good ones, anyway.
“For many buyers,” said Danielle Hale, chief economist for Realtor.com, ” ‘location, location, location,’ means ‘schools, schools, schools.'”
Good schools are great for selling a home also
According to this survey, nine of 10 buyers with kids in school considered local schools important or very important. Only a third of those without kids in school felt that way. I think those folks are missing the boat.
Why?
Because of my rental.
Very few of us are in the last house we’ll live in. Eventually, we’ll sell that place, or rent it out, and then who’s they buying audience, and what do they want?
Isn’t there a price value in having a home that’s easy to sell? You can tell the next prospective buyers two important features of your house that make it more valuable to buyers:
- Your kids will get a good education.
- When the time comes, it will be easier to sell your house for a good price
A hot school district can be a massive edge when you sell your home
How Schools Can Impact Home Prices
Other considerations
Of course, this matters less to age-restricted communities, where the next buyer by covenant won’t have kids in school. And if you’re buying a high-rise condo off the Strip, that comes into play less.
But I believe that one of the prime considerations buyers should have is how good the schools are at that address. In this internet age, that isn’t incredibly difficult to find out.
Also see:
Vegas real estate headlines – Thousands moving to Las Vegas as economy rolls
