With some families facing an urgency to find a home near certain schools or universities, there’s an up-tick in searches within our area at this time of this year. Buyers and sellers are put into unique situations during the start of school much more than any other time. This puts a seller in a strong position to sell their home at its highest value.
It should be no surprise that neighborhoods located closer to higher rated schools boast greater home values. Additionally, investors are always looking in these neighborhoods because they recognize the home price appreciation over the long term.
Don’t believe me?
Hear it from a few experts:
- The National Bureau of Economic Research reported that for every dollar spent on public schools in a community, home values increased by about $20.
- A Duke University study proved buyers are willing to pay significantly over asking price for homes near their coveted school choices.
- Brookings Institution found an average difference of $205,000 in home prices between properties in high-performing vs low-performing school districts.
As you can see, the strongest common denominator is higher resale values for homeowners.
If you are interested in learning the value of your home, more about local districts or any real estate related information, let’s connect!