22 Jul Why a good school district is important for your home
Why a good school district is important for your home
Many buyers ask me why it matters to be in a good school district. And neighbors, friends and sellers ask me why they should support school referendums, so they have highly rated schools.
The answer is that many buyers search for homes by school district and the quality of that school district weighs heavily on their buying decision. Many of these buyers are those that have children or expect to have those in the future. It is simple economics that the more buyers are interested in your school district, and the homes there, than the higher will be selling prices and values. The cost of private school is like a college tuition and most parents are not in the position to live somewhere that has poorly rated public schools and pay for that on top of their mortgage payment.
Homeowners, like my neighbors, have asked me why should they support referendums to keep the school district strong, well-staffed and highly rated? Let us just look at that answer in pure economic terms…what if the school district became less desirable because the yearly $1,000 referendum failed…and buyer demand diminished. As a result, then the yearly appreciation of their $500,000 home went from 8% to 4%. So, the lack of the $1,000 a year referendum passing cost them $20,000 in yearly appreciation. I have been working with buyers that waited until the referendum was approved before they would consider that school district…so it does matter and is a real concern. We all know that a good education and safe environment for our children is not just an economic equation but one that has long lasting effects for our future, our work force, and our values.
In conclusion, living in a good school district is not only important to you, but also for your community and our great State of Minnesota.
I hope you found my blog on “why a good school district is important for your home”
helpful. Look for more blogs on all aspects of Minnesota, real estate, and the world around us.
Just call, text, or email me with questions.
The Anderson Team