Real Estate decisions involve many, many factors. Before you actually select a house, you need to choose what city or community you would like to live in. There are so many things to pay attention to, not only for yourself, but because you will eventually sell the home to someone else. Choosing your community carefully is the first step in “location, location, location” and can help maximize your future potential resale value.
As a parent making a home buying decision, the school district of the new home weighs very heavily. Are there good public schools? If not, are there private schools? Which is better? Which makes more financial sense? As any parent who has toured both kinds of school knows, it’s not always easy to answer these questions The most obvious discrepancy between public and private schools comes down to cold, hard cash. If you are moving into an area where private schooling is the best option for your family, the lion’s share of the budget will likely go towards schooling, not the home purchase value. What are the tuition rates for private schools in the Bay Area? The tuition ranges from an average of $3,500 a year for parochial schools (in-parish student) to an average of $9,000 a year for independent elementary schools and $14,000 a year for private high schools. Even if you do not have school-age children, pay attention to the local school system. When you sell the property, many of your potential buyers will have that on their minds.
Many people have a bias one way or another. Some folks believe that private schools offer superior everything, justifying their tuition costs. Others feel that public schools provide more real-life experiences or, in some cases, available specialty programs in athletics or science. The good news for parents is that public schools cannot charge tuition. The bad news is that public schools are complicated, often funding strapped operations influenced by political wins and shortfalls. Financed through federal, state, and local taxes, public schools are part of a larger school system, which functions as a part of the government and must follow the rules and regulations set by politicians.
We advise our clients to consider the town, school district and neighborhood before purchasing a home. Some areas are more desirable than others are; prospective buyers typically look for homes in good areas. Folks are often willing to pay more for safety and a solid school system. Here in the San Ramon Valley, we have the benefit of an outstanding school district. This benefit has a positive effect on home prices and resale value. The quality of the district also plays a major role in migration patterns and demographic of an area. From a real estate standpoint, a good school district is a huge factor for incoming home buyers, and has a favorable impact on home prices. As your San Ramon local agent, we have provided a way for you to obtain information on local schools, including school reports, distance from particular addresses, and a way to see how local students score on the standardized tests.