I Don't Have Kids: Does School District Really Matter?
If you don’t have kids, you might wonder whether choosing a home while considering the school district matters. The short answer is yes. One of the first things that parents ask when buying a home is, "Are the schools good?" But for single homeowners, empty nesters, or couples without children, school districts are usually an afterthought. However, as you'll see, school districts do matter to buyers from all walks of life.
Let's Talk About Resale
First and foremost, if you're ever going to sell your house, your potential buyers may be parents. School districts matter to those homebuyers with kids, so living in an area with great schools increases the resale value of your home. A realtor-led study recently found that homes in good school districts attract 40 percent more potential buyers than similar homes in areas where the schools are not as highly rated. Again, this adds potential value to the resale of the property.
Often, grandparents also care about the school district as well, especially if their grandchildren spend a lot of time in their homes. They want to know that the neighborhood that they live in is family-oriented and has great kids living there.
Buyers with school-age children are often willing to pay a premium for a home in a great school district. Their children's educational futures are on the line and they're willing to spare no expense to make sure that their future is bright. Bottom line, a home in an area with great public schools will often be cheaper in the long run for parents as it saves them the expense of private school for their kids.
Living in an area with good schools means that you'll be living in a neighborhood of families who care about their surroundings. This means that they're more likely to take good care of their properties, and there is often less crime in these neighborhoods as well.
Housing market fluctuations are less likely to impact you as homes in a great school district retain their value, even if times are tough. Plus, with kids in the neighborhood, you'll always have access to pet sitters, dog walkers, and someone to rake your leaves or mow your lawn. Children bring life and vibrancy to a neighborhood, and a good school district will ensure a neighborhood full of kids.
You Can't Predict the Future
Sure, you're single now, but what about the future? You may get married and have children. Or, if you're already married, you may decide to have kids as well. Empty nesters might find themselves with a child that moves back home with his or her own kids. The possibilities are endless. You can't predict the future, and living in an area with great schools might become a priority in the future.
As you can see, there are many and varied reasons to buy a home in a great school district even if you don't have children.