5 Things to Consider When Buying a Home Close to a School
Back-to-school season has arrived, and if you live close to a school you’ve probably noticed the change in your neighbourhood. Some pros and cons come with living next to a school. Whether it’s the right choice for you completely depends on your situation and preferences.
If you are a busy family with young kids, it might be a no-brainer for you. However, if you prefer a quiet, slow-paced neighbourhood, you may want to reconsider. Here are five things to consider before you buy a home close to a school.
1. Nearby Playground and School for Kids
If you have young kids who you are often taking to parks, having a playground within walking distance may make your life a lot easier. Most schools have other great amenities as well, including basketball courts and skating rinks. Likewise, if you typically drive your kids to and from school every day, or if they take the bus, having the ability to walk to school and home will save you a lot of time and hassle.
2. Parking and Increased Traffic
In a school zone, you can expect to see an increase in traffic at certain times of the day. While parents are dropping their kids off or picking them up, the nearby streets will be busier than normal. If it is a large school, these times can become quite loud too. Parking can also be challenging near schools, especially if the school doesn’t have an adequate parking lot for staff and visitors. When sporting events or performances occur, you can expect overflow parking on the streets as well.
3. The Property Value
For many busy parents, having a school close to their home is a major selling feature. Many house shoppers will willingly pay an additional 10% on top of their budget for a home near a good school. Having a school nearby can be a deciding factor for homebuyers who can benefit from the ease of access. When considering resell value, closeness to a school adds to the property value.
4. A Busy Neighborhood
Having a school in the neighbourhood means there are a lot of kids in the area. As a result, homeowners may lose some peace and privacy. With an abundance of kids running around the neighbourhood, you may notice higher noise levels or even trespassing on your property. The risk of this is higher the closer you are to the school. If you are interested in buying a home near a school, you may want to consider looking a few streets away.
5. The Type of School
Whether the school is an elementary, junior high, or high school will affect most of the above factors. Young kids running around the area can be a lot different than teenagers. If you have kids in junior high, having an elementary nearby might not mean as much to you as parents with younger kids. Before allowing a nearby school to affect your decision to buy a home, make sure you look into the type of school it is.
If you have questions about living close to a school or if you are interested in buying a home or an investment property, contact me today to discuss your next steps.
– Duane Springsteel