As you consider how to sell a house or where to buy in the San Antonio TX area, one of the big causes for neighborhood-to-neighborhood variance in prices is going to be school districting. Some districts simply have a better reputation to the point where parents will pay top dollar to be there, even if the same house would be cheaper a town or two over. Let’s look at why this tends to happen.
School District Improvement Cycles
Local property taxes are, for the most part, used to pay for local schools in the United States. The issue arises when a lower-cost neighborhood also has a struggling school system – with low property values, the tax revenue may not be enough to do things like attract great teachers or improve school infrastructure. On the other hand, school districts who win awards and get good reviews draw the attention of parents, who pay more for their homes as a result and then generate lots of local property tax revenue. This reinforces the strong schools, giving them additional money to keep improving.
Buying a Home? Consider Up and Coming Areas
As a family shopping for a home, it’s worth considering up and coming areas if you don’t want to pay the great-school-district premium. Areas that are on the rise but whose schools aren’t winning awards yet may come at a better price, but because they are growing in popularity, there’s a better chance that the school district will get stronger revenue over time and eventually be winning those awards. There are a lot of factors that influence school district success beyond just money, but it doesn’t hurt for a district to be gaining revenue rather than losing it.
Selling a Home? Use School District Value If It Benefits You
If your home happens to be in a great school district, make that a key part of your marketing strategy with your real estate agent. Selling a house is all about figuring out how to play to your own strengths. If you aren’t in a great school district, however, you don’t have to worry – there are many families that are happy to buy outside of great school districts and who are glad not to be paying the premium that such districts can generate. Focus on what makes your house a stand-out among its neighborhood peers rather than comparing across town.
By understanding that school districts are influential on home value but not the end-all-be-all for finding a buyer, you can get what you need from your home sale while drawing more or less attention to school district factors strategically. The right buyer is the one who is happy with the reality of your home, even if it isn’t in the top school district in San Antonio Texas. You can draw attention with a great addition or other buildout as much as you can get buzz through school district success.
