The Real Estate Edge

The Real Estate Edge

Want to Live Near a School? Here Are A Few Things You Need to Know

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What should you do if you locate a home that fits your taste, your family’s needs, and your budget but is close to a school? 

 

The quick answer is that it is debatable. There are benefits and drawbacks to purchasing property near a school, and we’ve listed them here to help you decide. 

 

Advantages of Living Close to a School 

 

Property prices, simple commutes for young families, and safety are advantages of living near a school. 

 

Nearby Playground 

 

During non-school hours, many schools feature a playground available to the public. If you live near a school with small children, you’ll appreciate having access to a well-kept garden without paying an HOA to maintain it. 

 

Summertime Peace

 

Unlike other neighbors, if you live next to a school, you can bank on your neighbors being gone for the whole summer. During the holidays and summer, you may also expect fewer late-night gatherings and a significant reduction in traffic. 

 

Market Price

 

For the reasons stated above, homes near schools preserve their property values and are generally prized by potential purchasers. According to one poll, 20% of buyers would spend 10% extra for a home if it was near a school. According to the same survey, 10% of purchasers would be prepared to spend up to 20% extra! 

 

Disadvantages of Living Near a School 

 

Living near a school, on the other hand, has its drawbacks. 

 

Hideous Traffic 

 

If the school is a high school with major sports teams, you should anticipate dealing with traffic on weekday mornings and afternoons and perhaps on evenings and weekends. 

 

Your travel time may be sufficiently different from school hours to have a negligible influence on your life. To reduce the impact of school traffic on your life, you may have numerous routes outside the area. If possible, drive around a potential home’s neighborhood during school drop-off and pick-up hours to get a feel for the site. 

 

Trespassing 

 

Trespassing is conceivable when you live adjacent to a school, even if instructors, signs, and parents prohibit it. It may be as simple as children strolling over your yard to get to school faster, or it could be more harmful. This isn’t a given, but it’s a possible annoyance you’ll have to deal with as a school’s neighbor. 

 

Selling Time

 

While it is true that properties near schools keep their value well and often sell for more than the asking price, they can take longer to sell. Because not every buyer is eager to purchase a property constructed adjacent to a school, your selling procedure may take longer than you expect. This is usually a little cost, but it is something to consider.

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