Schools and Home Values Are Like Peas and Carrots

Fall is officially here and the kids are back to school—but not mine. This is the first year in a very long time that I don’t have any kids in school. Weird! Long before I rushed around in the mornings making lunches and driving carpools, however, I learned the important connection between education and real estate.

I began my real estate career 26 years ago with Merrill Lynch (who was subsequently bought by Prudential) and a lot of my clients at the time were transferees moving to Southern California. I dealt with two issues consistently in every transaction: sticker shock and questions about .

The reputation and the quality of local schools has a much bigger impact on home prices than most realize.  In fact, unless you have a panoramic ocean view, chances are the desirability in your neighborhood is driven by the schools. I’ve seen in some areas where a house literally across the street will sell for 10 percent more because it’s “zoned” for a certain elementary school with .

Over the past 10 years or so I’ve been very active in our local schools and I can’t tell you how many times when trying to either raise awareness for an issue or money for a cause I’ve heard: “I don’t have kids in school so that doesn’t really affect me."

WRONG!

If you own a home, the desirability of your property as it relates to the neighborhood and the local schools is what drives the value. It’s just that simple.  People will pay more to live in an area with good schools. And based on my experience, families really drive the market. They are the ones who have to “move up” when they need more room or “move down” when the kids go off to college.

In some areas, the number of school choices can help property values, too. In San Juan Capistrano, we have excellent public schools but we also have several private schools that have become a huge draw for families as well. You don’t have to live in the community where your child attends a private school but it sure makes life easier so many families choose to do just that.

Bottom line is that your home is most likely your biggest investment and it’s important to protect that investment so , be aware of what’s going on and on occasion buy some cookie dough or gift wrap to help support the programs in your area.

In the end, you’ll be glad you did!