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Buying Property Next to a School: Good Idea or Bad?

Buying Property Next to a School: Good Idea or Bad?

It can be tough to find the right property, especially if you have specific criteria that are hard to meet. Maybe you're looking for a home in a certain neighborhood, or maybe you want to live near a school. Sometimes the best possibilities are located near a school, which can be an advantage for some, especially those with children or those attending college, but a disadvantage for others. Living next to a school has its pros and cons, but ultimately it comes down to what's important to you. Here are some of the key considerations when deciding whether to live near a school.

Let’s start with the pros:

Have children or planning to. If you live within walking distance to school, it will be easier to get your children there. Maybe you have older school kids that have the option to walk themselves. It really doesn’t get more convenient than that. Sometimes it can be a hassle to drive the children due to limited parking in some of the school properties. Bussing isn’t always reliable; buses are known to be infamously late.

Networking. If you can walk your children to school and/or are more likely to be there more, you are able to meet the staff and other parents. Socialize and network, not only for making friends, but maybe for business as well. Sky’s the limit!

Affordability. Living in a college town, the cost of living tends to be slightly lower largely due to students renting apartments /houses in that area. Some properties are lower income to help the attending students. However, if you are in a high rated school zone for elementary /high school this can be the opposite due to the value of the neighborhood and cost of living going up as well as the value of your property.

Higher Property Value. As stated earlier, when residing in a high ranked or rated school zone the neighborhood and properties will be as well. The value of your home will be higher and that is great for resale value.

Access to playground. If you have younger children and would like to take them to the park to run and play off all the energy they carry, this is a bonus for living near a school. In many cases, nearby schools will have a playground accessible to the community after hours of operation. Or you may be a person that lives a healthy lifestyle and likes to run or play basketball in your down time. Having access to these amenities, like the track or basketball court will not only help you but can encourage those of us that might need to add a little more movement in our lives.

Safer neighborhoods. Schools prioritize safety. The immediate surrounding area of a school zone tends to be safe. Please always check the local crime maps to be sure, however it’s most likely that the authorities will have a more active presence around school zones.

Schools may offer community activities. Especially in small towns, schools can play a role as a community center and may hold community classes, clubs, or activities on the weekends for adults and children.

Cons of living near a school:

Schools can get a bit noisy. If you are looking for a quiet neighborhood, living near a school zone might not be the best choice. Between the children playing outside during recess, or practicing sports after school, to the band rehearsals and game day; it is more than likely to be constant during the week. Don’t forget the PA system is inside and out so you may hear it first thing in the morning or all day long.

Parking and Traffic. Depending how close you live to the school, parking can be a nuisance. Due to limited parking on the school grounds, teachers and parents might have to park along the street. This may affect what is available for homeowners. Expect heavy traffic, especially in the mornings and afternoon during drop off and pick up times. Lines can be around the block. At these times it is possible the line of cars could block you getting in or out of your driveway.

You do not have any children or plan to have any. If you are retired, have adult children on their own, do not plan to have any children, and are looking for a quiet place to live, this just might not be the best option for you. With all the activities and traffic around, it would be beneficial to look for a neighborhood outside of a school zone.

Little Intruder in your yard. This is very common for homeowners that live near schools. Children walking home from school might make a quick shortcut through your yard, or a group of kids walking through your neighborhood after school. The kids may not have any bad intentions at all; however, they may not know the importance of keeping off other people’s property. If this a something you are concerned about, try to find a property a couple blocks away.

Harder to sell. I know I included in the advantages, that your property may be easier to sell for a higher price in a high-rated school zone. However, if you buy in a poorly rated school zone, it can be the opposite. And depending on who is looking to buy, there are people that would not want to live near a school to save their life. Property in a poorly rated school, in any level (elementary to college) will be harder to sell than those in highly rated school zones.

To decide whether you would like to live in a school zone area take the time to weigh out the pros and cons that benefit your family and lifestyle. If you have children or are planning to one day, this might be the best decision for you. If you are a quiet person that is looking for a peaceful relaxing neighborhood, this just might not be the ideal option. I hope this article gives you some insight into what to look for when making your decision. Knowing the market and how to scout the different neighborhoods is key. Legacy has classes and tools that will advance your search for the best markets to not only live in, but to invest in. All these details play a factor in your maximum return on your investment. Whether the property is to flip, or live in with your family, knowledge is key. Please visit us at www.legacyeducationalliance.com to learn more on how to grab hold of the industry’s top leader in education and make your money work for you!

Areas of Review

Big picture takeaway points

Big picture takeaway points

  1. When deciding whether you would like to live in a school zone, take the time to weigh out the pros and cons that benefit your family and lifestyle.
  2. Knowing the market and how to scout the different neighborhoods is key.

Reflection

Self-reflection questions to think more about the content

  1. Do I want to invest in a school zone area?
  2. Where are the top-rated schools in my market? What are the property values there?
  3. Is my property in a college town?

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