Middle Tennessee, particularly Nashville boasts some of the best schools in the state. Tennessee has 168 total Reward Schools with 49 districts receiving distinction, according to a report recently released by the Tennessee Department of Education.
Many of you may already know that a good school district has a big impact on the performance of a particular area’s real estate market. If an area is located in a good school district, the property prices are likely to be higher there compared to the property prices in a non-performing school district. A good school would obviously be the one which offers modern facilities, a good student-to-teacher ratio and standardized test scores.
What many of you may not know is the fact that even if you don’t have kids, buying in a good school district almost always makes sense. Properties in good school districts perform better in the long run. Here is why:
It makes a big impact on home buying decisions
Several surveys have been conducted on what people prefer when choosing a home or a neighborhood. One such survey of adults raising kids suggests that nearly 63% of them would prefer to buy a home in a performing school district, so it’s an important factor for them to consider when buying a home.
Real estate market in a good school district is less volatile
Even when the real estate markets across America suffered badly over the past few years after economic downturn, the areas in good performing school district were not as much affected as were those in a non-performing school district.
It will get you good return on investment if you resale
Even if you’re not raising kids, investing in a property located in a high performing school district will always get you good returns if you decide to resale it. It’s because properties are always in great demand in these areas. They are less affected by temporary ups and downs in the market.
Whether you are a parent, empty-nester or just want to buy a property for the purpose of investment, you should consider buying in a good school district in Nashville.