The Price of Education
Providing a quality education for a child is a concern for every parent. How does one tell a "quality" education from any other?
If you are a parent reading this article in full “back-to-school mode,” you already know the importance of your school district selection to your child’s future. The quality of the education, the friendships they are likely to form, and the influences it will have on the rest of their life are all determined by what school they go to. But the quality of the school your child goes to does much more than that. School district rankings also have a large effect on the median sales price for properties located within San Diego County.
Incorporated into the traditional “location, location, location” tried and true adage of real estate is the quality of the school district your home falls within, especially for owner-occupied buyers with children. For families of school-aged children, the number-one reason for buying, selling, or staying in a home is directly related to their children’s education and special needs. Even across the county, the resources available to children are not the same depending on where you live.
As a result, parents are specifically relocating their special-needs child into San Diego County from other states in order to place their child into a very specific district or programs. Among special needs children, autism is the fastest growing segment of the childhood population, with nearly 1 in every 59 children receiving an autism spectrum diagnosis of children 8 years old in 2014. Yet, even across the same district within the county, the programs available to special-needs children vary widely by specific school.
Regarding the impact of schools on home values, the best school districts are typically located in the neighborhoods with the highest priced homes and corresponding property tax rates. As a result, annual sales typically peak in the three summer months of June, July, and August - when the kids are out of school and parents want to transition their children into their new neighborhood and school. Another alarming trend is the drop-out rate at the lower-performing schools, which correlates to the lower-priced neighborhoods of the county. In some districts the drop-out rate is more than 50%.
Compare and contrast the lower school ranking with the growing trend of private schools for those families that can afford the added expense. For these buyers, the location of the home in the vicinity of private schools that offer additional religious instruction or other moral value-based educational options are of paramount importance. For private school attendees, the percentage of children that go to college are a whopping 98%. So it comes as no surprise that the neighborhoods that offer private schools typically out-sell other neighborhoods in less days on market, overall price, and price square foot.
If you want to give your children the best chance to succeed while simultaneously increasing your own home’s property value, we suggest welcoming any private schools that want to start up in your area with open arms.
For More Information on Private Schools click - San Diego Best Private Schools