Some Home Buyers Would Rather Choose Homes In Good School Districts
Good school districts attract families with school age children. For most people school boundaries are important when searching for a home. There are a lot of reasons why people choose some houses over others. What the home looks like, the age of the house, how big it is and the commute is a factor. It is different for every home buyer. Even if a home would meet all other expectations, for someone looking for a specific school district it would be disqualified from the list.
We are lucky that we have good school districts in Fort St. John. One of the first things I will speak about when working with a family that wants to buy a home is their preferred school district.
There are some buyers who are willing to sacrifice some things in order to live in the preferred school district. Some are even willing to pay more.
The real question is do good school districts affect home values or do home values affect good school districts? That is a little like the question, which came first the chicken or the egg? Homes in preferred school districts sell for higher prices. Simply put good school districts are responsible for the increase in value.
On the other hand, generally speaking, more affluent homes can be found in the more sought after school districts. Statistically the more affluence in a community, the greater test scores. Test scores being one way to rate good school districts.
The real estate market is complex and it would be hard to measure exact numbers and how much demand determines price for a specific home buyer. There is no denying that home buyers will seek out preferred schools and this could increase the value of a home. Even if you do not have children in school, picking the right school district could help determine resale value of a home.