When you are looking to purchase a home, it is important to determine the list of attributes that you are looking for (pool, 4-bedrooms, finished basement, etc.). However, it is equally important to determine the longevity of these attributes when considering your long-term needs. For example, many people with young children place a greater emphasis on buying a house near a school. It makes sense, since you will not have to worry about your children needing to walk long distances to school, or needing to take a bus, or even requiring you to drive them to (and from) school each day.
However, it is also important to determine your long-term needs. If this is a home that you plan to live in right through to retirement, then buying a house near a school may not be as appealing in the long-term. Sure, it will make life easier while your children remain young enough to attend school, but keep in mind that one day your children will move on. The school will stay.
School areas tend to see greater traffic (and potential parking issues) due to the steady stream of parents dropping off (and picking up) their children every weekday during the school year. Also, schools tend to generate a great deal of foot traffic due to the number of school children walking to and from school. This can lead to a certain amount of noise during parts of the day in your neighbourhood. While this may not be an issue during the time when your children are also school-aged, you may not always wish to live in such close proximity to a school.
In regard to resale value, it’s difficult to say for sure whether buying a house close to a school will affect its value when you decide to sell. One thing is for sure: it may fragment the market for your home a little. There will be those buyers who love the your homes’ location and there will conversely be those buyers that will not appreciate this feature. What it ultimately comes down to in the end is whether or not YOU will enjoy this fact about the house. If you feel it will be a benefit to do so, then buying a house near a school may be right for you.
