How much of a factor is an area school for a resale of a house?

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pritirani asks:

Im going to be a new parent and we are looking to move in the north chicago area. I found a great condo: great price and great location (near trains, shopping, lake, park), BUT the public schools dont seem to have a lot of diversity or very good test scores. I know the schools wont effect my child for another 4-5 years but at some point it will. I dont want to pay for private school. More importantly, Im wondering how much of a factor is the public school going to be a factor in resale?

In Topics: Choosing a school, School and Academics

> 60 days ago

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eliad , Parent writes:

Quality of public schools in the neighborhood have a big impact on home value and resell. If you look at neighborhoods that are known to have good schools, homes tend to be more expensive.

I know in SF bay area, neighborhoods in better school districts, home values dropped less (or not at all) compare.

You should take all that into consideration. If you add the cost of a private schools into the equation, you might find out that you better off buying a more expensive home where you know your kids can go to a public school.

Here is some information on Chicago Schools:
http://www.education.com/schoolfinder/us/il/chicago/

> 60 days ago

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