6 Ways Local Schools Can Affect Your Home Value
When buying a home, there are so many things to think about—location, amenities, the nearest hiking trail. But what about schools? Even if you don’t have kids at home, buying a house near a top-performing school district could increase your property value.
30% of buyers between the ages of 33-42 say the school district is a top factor when choosing their neighborhood. (NAR) So be sure to keep these 6 factors in mind when purchasing your next Grand Junction home.
1. Seller Perception of the Housing Market
Sellers know that homes in good school districts can command higher prices. Typically, homes in great school districts receive 26% more views than the average listing and 42% more than those in lower-performing districts. (Realtor.com) This can lead to higher overall home values in the area. So, make sure to check with The Janice Burtis Team to learn about the local school districts within the area. We are Grand Junction experts and are more than happy to get you the inside scoop on the local goings-on.
2. The Buyer Demographic
Over 50% of millennials are now homeowners (US Census), meaning there has been a significant increase in families entering the market. As more young families move into a specific area, the demand for homes in good school districts rises. This increased demand often leads to higher home prices. It’s a simple case of supply and demand.
3. A School’s Reputation
Great schools mean great home values. According to a recent article by Realtor.com, homes located in top-performing districts tend to sell up to 8 days faster. Families want the best education for their kids, so homes in top-notch school districts are in high demand—ultimately driving up property values. It’s all about ensuring kids get the best start in life!
4. Convenience & Proximity
Living close to a school is a huge plus for busy families. Easy access means less time commuting and more time together. This convenience makes neighborhoods with nearby schools more desirable, which bumps up home values.
5. Facility Access
Think about all the extras a school can offer—libraries, sports fields, science labs, and even the latest tech gadgets. These resources make schools more appealing, and in turn, they boost the value of the community and nearby homes. According to the National Bureau of Economic Research, every dollar spent on school funding can increase property values by around $20.
6. Long-Term Investment Stability
Buying a home in a sought-after school district isn’t just about the kids; it’s a smart investment. Quality schools offer stability, even when the economy gets tough. Homes in these areas are more resilient to market ups and downs, making them a solid long-term investment.
Overall, school districts play a huge role in home values because education is a top priority for many families. The reputation, resources, and proximity of schools directly affect the desirability of homes in these areas. Homes in great school districts not only tend to have higher values but also offer a smart, long-term investment.
So, if you’re on the hunt for a new home, make sure to reach out to the Janice Burtis Team to learn more about our local community and top school districts.