Anywhere you go, schools play a vital role in real estate value. Parents and future parents diligently research district maps and boundaries when shopping, and REALTORS® are regularly asked about local schools. I still remember being in 8th grade, and my own parents having endless “boring” discussions about school districts before our family made a big move. Graduation rates? School ratings? Transportation to the schools? Classroom sizes? The questions and concerns are endless as you find the right area for your family or planned family.
You often hear the phrase “Location, Location, Location” when it comes to real estate values. But you might want to add another “Schools, Schools, Schools.”
Buyers are not only interested in great locations near amenities. They also want great schools and if you buy in the wrong school district it can negatively affect your re-sale value. Historically, homes that have resided in the worst school districts in Raleigh-Durham have reaped far less appreciation rewards. For example, in Wake County the average annual home appreciation has been approximately 3.5% while homes in the worst school districts saw less than a 1% increase according to sales data taken from the Triangle Multiple Listing Service.