Choosing your Home Location: School Districts Affect Property Values

October 7, 2015

Kids on Bus

GOOD SCHOOLS ARE A TOP FACTOR FOR HOME BUYERS NATIONWIDE
Whether you are in the market for a home or are a current home owner, you know that there are many factors to consider when looking to make a wise investment. The quality of a school district can have a profound effect on housing values.

The 2015 National Association of Realtors Home Buyer and Seller Generational Trends study found that the “quality of the school district” was the sixth-most-important factor influencing the neighborhood choice of home buyers around the country, but for buyers 35 to 49, the school district was the fourth-most-important factor. Top rated school districts seem to be insulated from property value decline.

HOW IS SCHOOL QUALITY MEASURED?
With the introduction of various school rating/grading systems, both by state governing bodies and individual companies, people have become more aware of a school’s ability to prepare children for the future. In the state of Indiana, the Department of Education releases accountability grades for individual schools that can be accessed on-line at the doe.in.gov website. There are also other independent school rating agencies that help you compare schools based on test scores, academic growth and college readiness for a more in-depth look at what is driving the rating of individual schools such as http://greatschools.org.

Two of the top 25 schools in the state are located in Fort Wayne, Indiana, including Homestead Senior High School in Southwest Allen County and Carroll High School in Northwest Allen County.

PUBLIC EDUCATION
In Fort Wayne, Indiana alone, there are four independent school districts including: Northwest Allen County, East Allen County, Fort Wayne Community, and Southwest Allen County. DeKalb and Steuben Counties have seven school districts combined.

PRIVATE EDUCATION
Another factor to concider when choosing a home’s location is its proximity to private schools. Indiana’s Choice Scholarship Program, commonly referred to as the school voucher program, allocates funds to eligible Indiana students to offset tuition costs at participating schools; providing parents more financial flexibility when sending their children to a private school. This program is allowing more families the opportunity to chose the location of their home, such as in a thriving downtown community or near a lake and the choice of a specific school in which to educate their children.

If you are looking to help increase property values by improving the rating of the schools in your district, there are ways that you can help. Get involved in your local schools by tutoring, attending school events, or volunteering to support our essential educators the community in which we live.

Contact us to learn more about how to make the right purchase for you and your family.

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