How do schools affect my property value?

Question

A campus of a middle school, high school, and tech school are going to be built down the street from my house soon. How will this affect my property value? Do the schools' performances on state report cards also have an affect on the property value (ex: good school performances increase our property value and bad school performances decrease it)?

Answer 1

I heard that properties near schools are "hot" properties. It should increase the value and sell easy!

Answer 2

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Answer 3

Depending on the closeness of the school to your property it will increase the property value. However, if the students utilize your property as a pathway to get to the school, it decreases it as no one wants students utilizing their property. Normally it is a win win situation for a homeowner as the school is new and will attract more buyers. People that have children that will be going to those schools will want be close to the schools so they don't have to worry about transportation costs, after school activities etc. As for the School's performance on state report cards, this should not be a problem for quite a while as the schools will be new and they normally get all the best equipment which helps students score higher on these test.l

Answer 4

Generally any local services, such as a School or Hospital, will increase your property value. Your property will be more attractive to families because of the ease of transport to and from school, and they will be prepared to pay a little more for the convenience. If the school has a good performance the price of your property will rise because more families want to live in the area. If the school performs badly the value of your property will not be as high, but it will still rise from its current value. Whatever happens you will experience a rise in the price of your property.

Answer 5

The quality of the local school can drastically affect the value of a home. Moving across the street in our county can add or subtract 10-15% of the value of the home if you cross certain school district lines.

Living close to schools generally increases property value, but if you get too close it can be decrease because of traffic problems. I work just across the street from a 2500 student school. No one in the area goes to lunch during their lunch period, and we all try to avoid having to come or go during peak school rush times.

So, unless the school are really bad, or they add a lot of traffic, your property values would most likely go up because you are close to the school.

Answer 6

Generally speaking, having a school close by to your home is a selling point when it comes to selling your home.

When you sell your home, there are to attributes which lend toward the price. The "appraised" value of your home, (or in most cases, the value the selling agent thinks you should list it for if you listen to them), and the price the buyer is willing to pay.

Appraisals are based on market information for similar homes that have sold in the general area.

Since most buyers tend to want to negotiate a price less than the asking price, the "appraised" value is more of an issue for a bank that may be lending money to the buyer.

So, while a house may not appraise any higher initially because it is close to a school, buyers who are looking to be close to a school may be willing to spend a little more for that convienence.

In cases where a school has a great reputation for very high standards of education, that can motivate a buyer even more to pay closer to your asking price.

Answer 7

Generally I believe it increases the value of a home. The quality of the school district is also very important. If the district is considered very desirable, then I think you could be in for some excellent home value appreciation. I think most people want to live close to a school that their children will attend, but not right next door. I don't know your situation.

Answer 8

Indirectly.

If these three schools gain a reputation of being bad schools that churn out students that are sub-par, the *reputation* of these schools will affect you. Not only will they possibly receive less money from the government (which affects your entire community) but then well-to-do people will be less inclined to move to your neighborhood.

On the other hand, if these three schools quickly gain a strong reputation for producing bright minds, others will be attracted to come to the schools and since there will be more people in your area looking for places to stay, etc, your house's value will go up.

Answer 9

Due to noise, traffic, vandalism, graffiti, and overall increase in crime rate regarding properties near schools, being close to a school lowers property values.

Answer 10

I would say that when ever you are living in a school district that it would make your property values go up. That is if it is a good school. Parents love it when school is close by.