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Answers (18)
- Marianne Howell Wright, "MarianneWright"
- Contributions:370
I would keep looking for a house with the better schools not on a busy road. If you decide to buy the house on the busy road make sure the price is discounted and remember that your resale value will be less when you sell.
- Reema Sharma, "ReemaSharma"
- Contributions:927
You can find great deal in both places, you should go with the area that your most familiar with and would want to live in
- Appraisal guy
- Contributions:120
You can get a bad deal in both places. But everything being equal, I'd go with the better schools and better area, even if it next to a busy road. Make sure you are getting the best price. Do this by comparing the home you will be buying with all of the other homes listings and sales in the immediate area. Sometimes, the Realtor will not want to give you this info.
Ask for it or find it before you make your decision. I appraised one home in a similar situation that offered a nicer home outside of town, but in a less popular school district vs another nice home in the popular schools. He went with the nicer home in the less popular schools, but he did not study the homes in the area and he could have gotten a better deal if he would have compared apples with apples or homes in the same market area. That is the trick to make sure the you are getting the best deal.
Ask for it or find it before you make your decision. I appraised one home in a similar situation that offered a nicer home outside of town, but in a less popular school district vs another nice home in the popular schools. He went with the nicer home in the less popular schools, but he did not study the homes in the area and he could have gotten a better deal if he would have compared apples with apples or homes in the same market area. That is the trick to make sure the you are getting the best deal.
- Laurel Jaques, "LAUREL JAQUES"
- Contributions:65
The best answer is to analyze some sales in the two areas. Check the cost per sf, list price to sales price ratio and days on market. That should give you a good idea of the demand and appeal for each area. Good luck!
- Gabrielle Mason, "Gabrielle Mason"
- Contributions:18
My first question to you is "Will you be utilizing the better schools"?
Most important to think about when trying to decide on a home purchase is; Will the home be what you really want, regardless of resale; unless you plan on being there a short period of time and resale quickly is inevitable. It's a huge and very important purchase; it's important that you are happy there and it suits your lifestyle.
Would you be content on a busy road trying to get in and out of your driveway during rush hour? Will the road and traffic noise be bothersome? Do you prefer more privacy? Are there children or pets at risk being on the road?
There will be a buyer for either home when it's time to sell; it comes down to personal choice for your lifestyle .
- Jason Bruno, "Jason Bruno MaExpert"
- Contributions:24
Great question. In my opinion, it is better to be in a town with better schools and better reputation as long as you can live with the busy road. I think your decision should be based on whats most important? Peaceful quiet neighborhood or better schools. I recommend revisting your "Important Things I want in my new home" list and see where the two fall.
- Paulette Talley, "PauletteTalleyHomes"
- Contributions:4
Good question. The two homes could conceivably have a similar value and appreciation.
Some buyers snap up houses because they are on a busier road and more affordable while another buyer may move on to another town and a quieter street. As an aside, for years I said "No" to busy streets until I found the house I am in now. It was love at first sight. I forgave the busier street and it is my favorite house of all time. It was also affordable, in a good school district and will have a little different appreciation on it.
- Amanda Eckart 10 min. response, "AEckart"
- Contributions:6
In general, I would say that being in the "better" town will pay off for you, so long as you achieve the appropriate sales price on the home which is on the busier street.
- Tom Matthews Joanne Taranto, "TomAndJoanneTeam"
- Contributions:528
Location, Location, Location are the three key points in real estate, and can be looked at from both a Macro and Micro position. You ask a great question and one that takes some thought. Ultimately, I believe that in a state like MA the home in the better town even though it is on a busy road will have better resale then the home on the quiet st in an inferior town. The real question becomes what location is better for the quality of life you want while you are living in the home. I go over re-sale with every buyer and it is really important, but not more important happiness and life style. Food for thought. Best
- Leonard Dunikoski, "Len Dunikoski SRES"
- Contributions:34
Better schools usually trump a quiet side road.
- John Kenney, "John Kenney"
- Contributions:25
It really depends if there is a large difference between the town. If there are minimal differences, you will be much happier and better off for resale purposes in finding a quiet street in the slightly lesser town.
Try to compare the trends of the two towns to see if their values have moved in similar directions over the past 8 years. This will help you in making that determination.
Realtor - Wellesley
Try to compare the trends of the two towns to see if their values have moved in similar directions over the past 8 years. This will help you in making that determination.
Realtor - Wellesley
- Vince Curtis, "SoCal Appraiser"
- Contributions:4699
Depends how busy. Best to find a home in a better town on a non-busy street.
- Teresa Butler, "TeresaButler21"
- Contributions:31
Schools are definitely a big selling point and creates greater demand for homes in that community. Greater demand increases selling prices for the area. So, it is good all the way around.
- Dan, "the_country_hick"
- Contributions:4699
If you have or will have kids the school may win out. For me the busy road would be a reason to buy in a different town. I am sure more properties will arrive if you look awhile longer.
- Tom Lynch, "tlynch26"
- Contributions:304
Zakeckel,
It depends on who the likely buyer is for re-sale. In the Berkshires, many of our buyers are weekenders, and they often do not want to be on a busy road. If your market is full-time families with children, the road is less of an issue and the schools much more important.
Good luck on your purchase!
Tom Lynch
Associate Broker, Massachusetts, Connecticut and New York
It depends on who the likely buyer is for re-sale. In the Berkshires, many of our buyers are weekenders, and they often do not want to be on a busy road. If your market is full-time families with children, the road is less of an issue and the schools much more important.
Good luck on your purchase!
Tom Lynch
Associate Broker, Massachusetts, Connecticut and New York
- Wes Black
- Contributions:509
My personal opinion is better town better schools bring a happier lifestyle.
- Judy Boyle, "JudyBoyleCDPE"
- Contributions:149
Hi Zakeckel,
I agree with Bob that the two can balance each other out. "Location" is always important in resale but the town can be equally as important to some buyers.
I would recommend you create your own list of priorities and then try to meet as many of then as possible.
Best of luck to you!
I agree with Bob that the two can balance each other out. "Location" is always important in resale but the town can be equally as important to some buyers.
I would recommend you create your own list of priorities and then try to meet as many of then as possible.
Best of luck to you!
- Bob Brandt, "BobBrandtRealtor"
- Contributions:1019
It is possible that the pros and cons equalize each other in both scenarios, making the resale time and value increase about equal. I'd ask the local Realtor on the corner and sit down with the school district and go over why they are so much better in relation to your childrens needs.
Is it better to be on a main road in a better town?
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