Whether you have children or not, the impact of high-value school districts in a housing market is a bit of a feedback loop. High-achieving schools draw buyers who are more willing to pay premiums for houses, which in turn go up in value, which raises property tax revenue, resulting in better-funded schools. So it’s no wonder that many studies estimate that homes in better school districts sell for much more per square foot than homes outside high-performing districts. So how should you respond in San Francisco, CA? A few ways.
If you have school aged children or intend to while you are living in your home with homestretch furniture, simply recognize that buying in a high-performing school district is an investment. Many families see the alternatives of buying a higher priced home or paying for private school education if the district is underperforming; it’s just part of the budget when planning on having children. You can also decide the premiums are too much and you’re willing to work with a less well funded and potentially less high-performing district. Most people discover that even less high-demand districts have plenty of opportunities, particularly if you’re ready to be very involved.
If you know you won’t be impacted by school districts personally, it’s a great opportunity to find a better deal on a home if you buy in a less well-loved district. Knowing about school districts is still an asset to you, but more because you don’t want to overpay for a home in an area where you won’t even be taking advantage of those schools even with wolf cabinets.
Buying in a less well-performing district can still benefit the schools too – your additional tax revenue goes toward a district that most likely could use the funds if you move somewhere that isn’t already highly prized for its schools. In general, the inequality of school districts can be driven by lack of funds or plenty of funds, so buying in an up-and-coming area whose schools haven’t yet caught up could actually benefit the students there indirectly.
It is possible to sell homes in San Francisco, CA whether the schools in your area are high-performing or not, but a great real estate agent is going to know that to sell a house, you need to know what you have going for you. Your agent can help you frame the internal qualities of your home, the neighborhood, local amenities, and yes, school district facts in a way that shows your home in the best light. By focusing this way, you don’t have to worry that no one will buy your home just because the district isn’t as good, and you don’t have to fret over pricing strategy just because your district just won a huge award. A balanced attitude will help you think strategically and make the most of your home.