When it comes to home purchase, location always matters. While some homeowners care more about the price, there are also those who focus more on the reputation of the area. Experts suggest that buying in a good school district is a decision that always pays off. This is true even if you don’t have kids or have no plans of having children.
Homes with Better Value
It is important to see your home as an investment, especially when the time comes that you would want to sell it. Homes in good-quality school districts don’t just have better resale value, but they also sell faster than homes in areas with low-quality schools. It is good to know that they hold their value better during a tough economic time or when home prices start to decline.
Savings and Equity
Homeowners with kids usually benefit from this move, as they can save more on tuition costs. Mortgage companies in Orem note that it is also likely that you’ll gain more equity when you have a home in a good school district. The return on investment is also higher in areas that have at least one good school than those without good schools.
A Little More Expensive
The downside, of course, is that such homes are more expensive. Some may also need to pay little higher property taxes, as some will be allotted to schools. If you have no kids, you may see no benefit in this. Overall, however, purchasing in a location with good schools offers more stability in home value, and this is beneficial if you start a family or plan the sell in the future.
If you’re planning to a buy a home, consider location the most. Choose areas with good public schools, and consider private schools as well. Schools that do well on tests and bring excellent teachers will not just preserve home value, but also guarantee faster resale. If you can afford it, it also a good idea to buy a home near parks and business centers.