Educational Opportunities and Their Influence on Real Estate

Different people purchase different properties for different reasons. There are obvious reasons: proximity to job, proximity to family, great deal, local housing market value expected to increase, etc. Another more prominent variable in home buying, especially for parents, are the surrounding educational opportunities.

In general, schools become overcrowded in cities with large populations and limited space. The better schools often have to form waiting lists due to the dilemma. New York Times Writer Christine Haughney recently interviewed a family in New York. The family hired an educational consultant to help them find the best schools in the areas they were interested in. Based on the consultant’s recommendations, they purchased a small 2-bedroom apartment for nearly $2 million near the suggested school. Full Article

“I don't see this as a nationwide issue. This is more centralized to NY City. In other areas such as Florida, there is a "Choice Program" which means parents can choose the school their children attend regardless of where they live. Naturally, the better schools have a longer waiting list.”

– Mentorlynx Mentor and Trainer Eric Von Heal

So it seems that different areas have different educational policies. Don’t forget to look into the educational opportunities nearby the next time you’re considering purchasing a property, especially if the majority of those interesting in housing in the area are parents with school-aged children.





Have you had any homebuyers solely focused on surround educational opportunities?