Why It Pays to Seek Out Great Schools
By:
Sarah Max
Originally Published:
May 1, 2010
EVEN IF YOU DON’T HAVE SCHOOL-AGE KIDS, it can still be worth shelling out bigger bucks and paying higher taxes for a home in an area with good public schools. Those houses tend to appreciate more in up markets and sell faster and for higher prices in down markets, says David Figlio, a Northwestern University professor who has studied the relationship between home prices and schools. Want to avoid paying a premium? By researching teacher credentials, funding, and community support as well as test scores, you may be able to uncover new or improving school districts where the homes don’t command the same price today as areas with brand-name cachet but could in the future.