Profile picture for leurre

Does being across the street from an elementary school raise or lower a home's value?

We are looking to buy our first home and are considering a house that is across the street from an elementary school. I want to know how the location affects the home's value over time. The home was built in 2004 and is in a newer area. 
  • February 23 2009 - Washington
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Answers (6)

Profile picture for KevinRichey
I realize this question is older, but the value is in the eyes of the buyer. People with children that would attend the school will more than likely appreciate the location. Older folks may not enjoy the additional traffic and noise.
  • August 26
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 In my opinion a home across the street from an elementary school will slightly reduce the price. This is primarily because of the traffic and noise.
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  • April 19
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In most cases it decreases the value due to the extra congestion and noise that a school creates. Considering that less than 1/3 of homes have children living in them, it lowers value and desirability for most buyers and this will directly effect how many buyers that would or wouldn't be interested in purchasing the property.
  • April 17
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Profile picture for egelandgroup
Overall being across the street from a school is a selling point...some buyers may not appreciate it, but those who do will put a premium on the location.
  • July 08 2009
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I agree with Sam each buyer will have their own perception of what adds value. A lot will depend on the make up of the neighborhood. As Realtors, we don't direct people to or away from a particular area based on the type of people living there. Things like a predominant population of a particular race or religion are obvious. Less obvious but still a factor are the family status or age of people in an area. For us to say a neighborhood is a "family friendly" could be taken as discrimination against seniors with no children and is just as illeagal as discriminating based on race. That being said, take a look at the neighborhood for yourself. If you have or are planning to have children a nearby shcool will be a real benefit. If not your percieved value may be less. You have to judge for yourself how a future buyer might feel when asking the same question.   
  • March 07 2009
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The perception will be different for each buyer.  If it limits the number of potential buyers in the future, it effectively limits the value increase.  While a school can be a positive in some ways, you can imagine that some buyers wouldn't want loud children playing outside, traffic at school beginning and end, etc.
  • February 25 2009
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