School Ratings Impact Home Values
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| Decatur Texas ISD High School |
If you have a family with children and are looking for a new home, schools play an important part in helping to determine where you want to live. Many parents look to school ratings as part of their home search, seeking for higher rated schools and homes for sale within those areas. School ratings have a strong impact on the vitality of neighborhoods, and the value of homes. Kids or not, anyone selling a home with higher rated schools nearby can often sell their home at a higher price. Being located in rural type areas, some schools may not offer all the programs that are available at other schools. Plus a little bit bigger school in a bigger class may get more recognition.
Reports show that just one highly rated elementary school in a zip code will have homes with higher values and greater price appreciation compared to similar homes in neighborhoods without a high rated elementary school.
While there are other factors that determine a home’s value, school ratings have been shown to make a big impact on residential properties. According the Report, the average value of homes in the zip codes with better schools was 77% higher than in the neighborhoods without good schools.
If you are on the search for a home with good schools and are concerned about being priced out, keep in mind that scores change over time. Take into account how old your children are, if you have young ones for example, and find a home with a great Elementary school, but the High school is not performing as well, within 10 years, the school could see improvements. School API scores and ratings from organizations such as Great Schools are one neighborhood aspect to look for before you buy.
