Mar 30, 2021

Great Schools Are Important To Property Values

The state of Nevada where I live ranks 49th out of 50 in terms of its public schools.  The fact is that 9 out 10 kids in the state do not have the scores, or the grades to go to college.  Yet, there are some neighborhoods in Nevada that have great schools with ratings of 8, 9 or 10 out of 10 in the Great Schools rating system.  Those areas tend to have the highest property values in the state.  Unless you are moving into a retirement community, whether you have kids or not, you should try to buy a home in a neighborhood with great public schools that rank 8, 9 or 10.

You will pay more for that neighborhood; but when it comes time to sell, you will get more back.  Most important if and when a downturn comes, which is inevitable,  homes in the neighborhoods with the best schools tend to retain a good share of their value.  Part of the adage of location, location, location aside from the specifics of the particular property involves great schools.   Always remember, there are no bargains in real estate.  And, if you buy crap, you will own crap. 

There are some exceptions to the rule.  There are cities with high property values because of supply and demand that have lousy public schools.   And, any area near the beach is going to have homes that sell for a lot whether the schools are good or not.  In both those cases, parents will be putting their kids into private schools so they don't pay much attention to the public schools.  But again this is the exception to the rule.  Even if you plan to put your children into a private or religious school, it is still best to buy where there are great public schools. 

At Paragon Home Resources, we work with families to sell and buy homes all over the country.  We can help you identify the best schools in the best school districts to insure that you are making a good investment.