5 Things to Consider When Buying a Home Near a School

Local school districts can substantially impact the location in which a homebuyer is looking. Sometimes the best possibilities might be located near a school, which can be a great thing for some—especially those with children or those attending college—and an ultimate deal-breaker for others. Here are a few things, good and bad, to think about before selecting a home near a school:

1. Affordability – Neighborhoods near schools and colleges tend to have a lower cost of living than other surrounding areas. Choosing a home that is located near a school or campus is more likely to be more affordable than another similar home in a different neighborhood.
2. Noisy Neighbors –  For those who prefer a more quiet setting in the neighborhood, living near a school may not be such a good idea. From playgrounds to other outdoor activities with large gatherings, any time there are many children in one area, it is bound to cause some commotion.
3. Increased Property Value –  Many homebuyers are willing to pay extra for their home in order to live near an exceptionally good school district for their children. One survey of potential homebuyers found 20% would pay up to 10% more than their budget for a home near a good school. And up to 10% were willing to increase their budget by 20%.
4. School Emergencies – Any time a school is dealing with an emergency, the neighborhood around it will be affected. A pulled fire alarm means all the children will need to evacuate the school and until it is deemed safe to return. This poses a threat to nearby neighbors who could potentially have their front yard or sidewalks used as a camp-out spot for students.
5. Walking Distance – For parents that live within walking distance to their child’s school, this decision can be a slam dunk. This gives parents the ability to avoid pick-up and drop-off lines, gas savings as well as being able to sleep in later!