Buying a home is a big purchase that requires thoughtful consideration. There are many important items to consider when choosing a home of your own. Whether you’re married or single, local schools should be on your mind while house hunting, along with any other must-haves on your checklist. Here are a few reasons why local schools are an important consideration for every buyer.
Long-Term Protection for Your Investment
When purchasing a home, buyers should think long-term. If you’re looking to buy a home as an investment, you’ll want to hold on to the property for at least five years. With the way that fixed mortgages work, homeowners pay more towards the principal each year as the debt decreases. Once buyers factor in all the additional costs of buying and moving into a new home, moving before the five year mark may not be a profitable choice. It is possible to make money with a short-term starter home or a house flip, but this is definitely riskier business.
Quality Schools Pay off in Resale Value
When you do decide to sell the home you eventually buy, its vicinity to good schools is going to help its resale appeal. Even if you don’t use the school system for your own children, prospective buyers might. Schools are high on many buyers’ wish lists, and proximity to good schools will help boost the resale value of your home. You may want to do some research to find out school statistics in possible new neighbourhoods. Designated land for the school district or new school developments can indicate growth in the area.
A Home to Fit Your Family’s Lifestyle
Moving into a home also means moving into a new neighbourhood. The children that attend the local schools will also be your neighbours’ children. Family friendly neighbourhoods tend be close-knit communities, which can translate into an added sense of security for local residents. If your lifestyle doesn’t include children, however, local schools may be a different concern. Living in very close proximity to a school may mean noise and traffic congestion at certain times of the day.
Educate Yourself to Find the Best Home for You
If you’re sure that you won’t be using the school system in the area, you may be able to find more home for your money. Although not being in close proximity to quality local schools can affect the resale value of a property, it may not be a concern if you’re planning on purchasing a “forever home.” Knowing all the factors that contribute to the listing price can help you find the best buy and the perfect fit when shopping for a new home.
Kelowna is home to many great schools and family oriented neighbourhoods. It’s also filled with city life and art culture. Whether you’re married, single, young or old, there’s a home to fit your lifestyle in Kelowna. Do your research, and buy with confidence. The Okanagan is a great place to live on your own, or to raise a family. However you intend to live life in Kelowna, it’s important to know as much as you can about the local area and its schools.