Why Does A Neighborhood’s School District Matter When Purchasing A Home?

Have you been shopping for a home and trying to determine the best neighborhood for your situation? When buying a property, there are several factors to determine when deciding what type of home to purchase, including its size and square footage, the home’s age, and where it’s located, but did you know that the school district your potential home is near can impact your home’s value, even if you do not have children? If you are interested in buying a home in Knoxville, Maryville, Lenoir City, Oak Ridge, or Gatlinburg, Tennessee, and have questions about financing your dream home, Foundation Mortgage is here to help. Continue reading to learn more about the effect a neighborhood’s school district has when buying a home.

Important Considerations When Buying A Home

If you have made the decision that you are ready to purchase a home, and are trying to figure out the perfect location to relocate, there are several factors to consider. In addition to being a major financial decision, it is also one that impacts your lifestyle. The location of your home will impact your commute, so you will want to ask yourself if it is a feasible drive, or if there is adequate public transportation available. You will also want to evaluate the importance of what type of community you live in, and the nearby amenities. Do you prefer the quiet, slower pace of a suburb, or a home that is located near restaurants, shopping, nightlife, etc.? Additionally, if you are a parent of younger children, you will want to evaluate the quality of schools and how close they are to your location when purchasing a home. It is important to note that even if you do not have children, living near a school can still impact your home purchase.

What Are The Benefits Of Buying A Home Near A School District?

There are several advantages to buying a home near a good school district. First of all, homes that are close to quality schools are very likely to sustain their property value, or even increase in worth. Neighborhoods that are near schools are also typically deemed safer with lower crime rates, which also adds to a home’s worth. Additionally, homes that are near schools are very desirable for people who are searching for a property, so when you are ready to sell your home, it will likely be in high demand. Also, if you do have school-aged children, it is an obvious benefit to be close to a good educational institution.

Finding A Home In The Right Location

If you are interested in purchasing a home near the areas of Knoxville, Maryville, Lenoir City, Oak Ridge, or Gatlinburg, Tennessee, and have questions about buying a home near a school district, Foundation Mortgage can help. Contact us today for a consultation.