Your school district is one of the biggest factors in your home value. School quality, trust and community all shape what a buyer is willing to pay. When you sell your house, it’s important that buyers feel confident in their purchase. If someone can’t feel positive about the school district or neighborhood, they might not be willing to make an offer. Schools affect home prices in two primary ways: availability and desirability. Below we discuss both in more detail so you understand why schools play such an important role in the value of your home.
How Your School District Affects Home Value
School districts have a strong impact on the home values of a neighborhood. In some areas, a strong district can raise the price of a house by as much as 20%. The reason is simple: when families move, they look for the best place to live for their kids. If a buyer can’t find a good school district close to work, they might move to a different city or state. Before you buy, you can check any campus’s state accountability rating on
TXschools.gov, the Texas Education Agency’s school report card site. If you’re moving into Lamar CISD, our
Lamar CISD enrollment checklist for homebuyers walks through the paperwork and deadlines.
How Much Does a New School Have to Do with Home Values?
It depends. The amount that a new school has to do with the value of a home depends on the school district and the specific home. But generally speaking, if a home is worth $200,000 and a new school has been built in the district, then the home can be worth an extra $20,000. What does this mean for you? It means that when you’re looking at selling your house, you have to be careful to consider all the factors. If you live in an area with a lot of new construction, like many of the
homes for sale in Fulshear, Texas, you may have to weigh the impact of a new school on the value of your home.
How a Bad School Decision Negatively Affects the Value of Your House
It’s important to keep in mind that the sale of a home is not only about what a buyer is willing to pay, but also about what the buyer is willing to accept. If the buyer is unhappy about something related to the house, they might walk away from the deal. A bad school decision negatively affects the value of a home when a buyer walks away because of something like the property taxes, house upkeep, or the school district. When a buyer walks away, the seller loses time on the market and can end up covering extra carrying costs, closing fees and other expenses related to the sale. Buyers can avoid surprises by learning
ways to experience a neighborhood before buying a house.
Conclusion
Schools affect the value of your home in two primary ways: availability and desirability. When you’re getting ready to sell, consider how your school district and any new schools nearby affect your home value. If you want to know where your house stands today,
find out what your home is worth and talk with our team about pricing it right.
