Finding the perfect home is a challenge. Some homebuyers have their preferences when it comes to suburbs or cities, quiet neighborhoods, or busy one. Today, we are going over the pros and cons of purchasing a house close to a school. If you have kids at school or college-aged, this is for you!
Pros
Affordability
Many neighborhoods that have schools nearby have low-cost properties. This is because a lot of them are rented by students who can’t afford something expensive. This results in the value of the houses not being so high, so if you are looking for something more affordable, this could work for you.
Playground Nearby
This is a huge advantage for parents that have young kids. You are not going to need to pack a car to go to a park, as it is walking distance to your home. Some of them have fences, which allow kids to stay safely by themselves, and they may even have basketball courts and other amenities.
May Increase Property Value
Houses near a school — especially a good school — have increased value due to demand from parents that want to live closely. Many of them are willing to pay more for a property that is close to a prestigious school. Homebuyers might have to increase their budget by 10 – 20% to live in these places, so it is important for sellers to know this.
Kids can walk to school
The good news here is that parents who live close to their child’s school can avoid the pick-up/drop-off lines. Another good point is kids can exercise by walking to school, the parents will save money with bus passes, and they won’t need to wake up so early.
Cons
Increased Traffic
During the hours for drop-off and pick-up, the traffic could be heavy in the area. Additionally, if the school is really big, it can change the quality of the air and increase pollution. There may be some parking inconveniences as well.
Noisy Neighborhood
A place near a school will have many kids playing together and will be very noisy. For those who like a quiet and peaceful area, this may not be for you. Usually, the sounds cease after school ends, but these places generally have many extra-curricular activities for the kids after school.
May Be Harder to Sell
Some homebuyers don’t consider buying homes close to schools, even if they are good properties. Another point is that the value of the house can change depending on how good the school is, and a school can either increase or decrease the value of your property, depending on its reputation.
These are the pros and cons of living near a school. Now you have the know-how to choose what fits best for you and your family!
