Buying a condo near a school in Toronto seems like the ideal choice for families with young children or those planning to have kids. But that’s not the only reason why people often think about buying property in the proximity of a school. The value of your property has a direct connection with proximity to a school. Looking into the rating of a school near your house is important since it will affect the price and value of your property down the road. Many home buyers with kids are often willing to pay a good price if the property is in proximity of a highly rated school.
In a survey that interviewed potential buyers, 91% said that proximity to a good school would impact their decision making when looking to buy a condo, while 1 in 3 buyers said they would be willing to move to a smaller unit if it was in the close proximity of a school. However, since not all the participants of the survey had children, it goes to show that the interest in buying a condo near a school extends beyond providing educational opportunities to their offspring to the overall value of real estate – killing two birds with one stone. All in all, buying a condo in the vicinity of a reputable school district is a smart decision, no matter the reason.
Before buying a condo near a school, you need to determine the viability of an educational system , such as speaking with your real estate agent, talking to parents with children already enrolled in the district, visiting the schools in the educational district, and researching online. Real estate agents are always in the know about good school districts and the financial viability of buying in an area.
What To Consider When Buying Close To A School
1. Amenities
There are many benefits of buying a school in a reputable school district. Best of all, you and your family will be able to avail the facilities outside of school hours, such as sports fields, parks, and running tracks. Not to mention, a lot of schools also offer art classes, martial arts, sports events, and music classes for adults as well. Such programs are great for recreation and are a great way to bond with neighbors and other parents. If you are gauging the viability of a school district, you would do well to call up the schools and see what kind of activities they offer. This will help you narrow down your search. Plus, living near a public school gives kids access to the playground when school is out for the day, even the basketball court, the swings and monkey bars.
2. Traffic
One of the biggest gripes people have about living near a school is the increased traffic, lack of parking enforcement and inconsiderate parents blocking, or parking in neighborhood driveways. However, when you fall in love with a place, things like parking and traffic are not deal breaking factors. However, you need to consider if the influx of traffic during pick up and drop off timings will affect your commute to and from work. Not to mention, some people get put off by increase in noise levels when living near a school, such as the ping of metal bats, sport activities, band practices, horn of buses and cars, and kids shooting hoops on the basketball court.
Not to mention, be prepared to see a higher volume of kids walking around in the afternoon, which could result in trespassing on your property or even kids loitering around in the off-school hours. But on the other hand, if the proximity to a reputable school means that your kids will be able to walk to school, the positives outweigh the negatives. Not to mention, the reduced speed limits and crossing guards implemented in school districts ease the anxieties that most parents have in a big city.
3. Transportation
Transportation is one of the biggest factors when choosing to live in a condo near a school. Parents can rest easy knowing that their kids can easily get to school without needing to be dropped off and picked up, negating the need for a lengthy commute or bus ride. This saves a lot of time and affects your commute to work. If your kids are old enough to get to school on their own, living closer to the location of their school is cheaper and more convenient for everyone.
4. Environment
A downside of living in a school district may face a horde of inconveniences, such as trampling of curb-side gardens, heightened noise, littering of private property, and property defacement. These risks are to be expected when you are living close to an area highly populated by children and students. Living near high schools means you may be subject to pranks and vandalism as well. But on the upside, safety is a priority for schools and most schools are located in area with tight security measures and see daily police patrols. Schools in Toronto are generally located in safe neighborhoods with parks and local law enforcement nearby. This is a perk for people living in safe communities.
All in all, the positives definitely outweigh the negatives when it comes to purchasing a condo near a school. The truth of the matter is that buying a condo near a school district is a great investment because it adds value to your property down the lane and helps you avail the benefits of a community that is formed through participation in local events and classes. Homes in highly rated school zones are in higher demand for buyers, and fetch higher resale prices!
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