Location, location, location!
This real estate mantra needs to be crystal clear in the mind of a property buyer who intends to purchase a home with investment potential, and in particular what needs looking out for, is the distance between the home he’s planning to move in to, and a well ranked school. Yes, other amenities such as the closeness to shopping malls and medical facilities are also important, but the one factor that has the largest impact on property-buying decisions should be the proximity to good schools. In fact, this will not only have an influence on the housing price in the area, but will also affect the education of present or future children in the buyer’s household.
Homes in school districts will sell for more, so get informed.
Irrespective of the person’s life stage, whether they are parents or not, schools should always play a role in the decision-making process of purchasing a property because of the influence they will have in the speed at which the home will sell. Areas within proximity of good schools will be more in demand and therefore attract a higher number of potential buyers, even when the market is considered to be facing a slow period.
This happens as a consequence to the school zoning system, where priority in accessing schools is given to those who live within the feeder zone of that particular institute. Meaning that good schools, which will see a number of applications so high they may not be able to accept all candidates, will have to make a selection, and the families living outside the zoning system will lose their spot to someone living in the school area.
To get information about schools in a certain area and how they are ranked, contact your local provincial department of education or browse their website.
Purchasing a property is a long-term investment, and you need to do everything in your power to make the most informed decision possible.