When someone buys a home, a lot of factors are considered in the valuation of his/her choice. The feng shui of the home, the size, layout, age, room count, and proximity to amenities are all important factors to buyers.
One of the prime factors that plays an important role in one's decision to purchase one's home is the local school district and the schools that are zoned for a specific neighborhood.
In the State of California, most K-12 schools are now in session. However, the educational experience that a student will receive from one school may not be quite the same as to another school. Each school provides a unique educational program that will allow your child(ren) to achieve certain outcomes (i.e., test results, state exam results, the rate of attending higher education, etc.). Additionally, certain schools spend additional resources to improve their students outcomes. Based upon your child(ren)'s resources, social influence's, and trusted mentor's, each child will ultimately understand and grow differently than his/her classmates. In return, the demand for excellent schools drives real estate prices higher as quality schools becomes more scarce. This is mentioned by the National Bureau of Economic Research, when co-authors Lisa Barrow and Cecilia Rouse stated in their research (Using Market Valuation to Assess Public School Spending), "A one dollar increase in state aid increases aggregate housing values per pupil between $19 and $20. These results suggest that increases in state aid increase property values which reflects that potential residents value the education expenditure." Although the findings of this study are persuasive, they do not paint a full picture of the correlation between school spending and home values. According to the researchers, some school districts may operate more efficiently, so while expenditures are lower, the quality of education is still high. Thus, other ways to determine the viability of a school and local district are:
1. View school ratings, reviews, and curriculum offered by going to: https://www.greatschools.org/.
2. Visit the school yourself and speak to the head of education and other department heads.
3. Consult with a real estate professional, such as one of our own Realtors®, who can help you narrow down which neighborhood and/or city will be best for you and your families needs. An upstanding buyer's agent should know at least which schools are considered top notch and which are less desirable.
4. Talk to parents whose child(ren) are in the school that you might be considering. By speaking to such a parent, he/she will have some insight to how the education is.
Other data worth considering to include are:
1. The ratio between student and teacher, as well as the class size
2. Test results in English, Math, and Science.
3. Cost spent per pupil
4. Teacher educational attainment - how many teacher's have earned a Master degree or PhD
5. Languages offered
These methods alone are not foolproof; but, when you use them in combination and/or all of them, you'll have a better understanding if the school or local district will meet your child(ren)'s needs.
We would be honored if you chose one of our own Realtors® to assist you in purchasing your next home. Please contact us so we can provide you with a free consultation at:
Phone: (949) 424-7282 or Email: Info@MoaddabRealty.com