You’ll pay more to live in a good school zone.
Mum and Dad buyers often pay attention to school performance ratings on websites like the my schools website and are likely to pay more to be near public schools with higher scores. Buyers who have kids or are planning to have kids will likely use this type of criteria as the most important part of their search.
The upshot: A school’s high rating often drives up the prices of homes in that school’s zone. Even if you don’t have kids, you’ll still pay more to be near a good school. Schools basically establish an area as a good location.
‘Properties close to Australia’s top performing state schools regularly command sale-price premiums compared to neighbouring areas. Weekly rents are also increased.’
Wise Real Estate Advice senior buyer’s agent Mark.
Good future resale value.
Real estate never comes with guarantees, of course. But it’s certain that parents will always want the best school they can afford for their kids. In markets good and bad, home buyers should think about resale when seriously considering a home. Buyers, before moving forward on a home, should immediately think like a seller. Ask yourself the question: “If the housing market changes and I need to sell, how will my home fare?” The location, and in particular the school zone, should be considered.