Author Topic: Effect of a school on property value  (Read 1356 times)

hgjjgkj

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Effect of a school on property value
« on: December 17, 2017, 10:58:44 PM »
Had a question for the group. How would a charter school k-9 with 80 dormitories being built  on the same street roughly as your home effect property values?

Enigma

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Re: Effect of a school on property value
« Reply #1 on: December 18, 2017, 12:34:58 AM »
Schools tend to bring up the value of the properties as parents want to live closer to their kids.  As for 80 dormitories I would guess you meant 1 dormitory with 80 rooms.  I recall my college campus had about 10 dormitories for thousands of students.

Michael in ABQ

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Re: Effect of a school on property value
« Reply #2 on: December 21, 2017, 12:00:03 PM »
Had a question for the group. How would a charter school k-9 with 80 dormitories being built  on the same street roughly as your home effect property values?

I'm a commercial real estate appraiser and I've actually been engaged by a city to do a market analysis of something similar, specifically do community centers affect property values.

The short answer is, it depends. Some people will not buy a house near a school citing the concerns with traffic and children (you kids get off my lawn!). For others it makes no difference or can be a slight positive. If your house is directly across from where the buses and parents pick-up drop-off kids it would probably be a negative. If it's a block away it will likely make no discernible difference.

The only K-9 schools I've seen with dormitories are located in rural areas where it becomes impractical to bus kids hours each day. I've never seen it in more typical urban/suburban settings unless it's more of a treatment facility than a traditional school.

MayDay

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Re: Effect of a school on property value
« Reply #3 on: December 24, 2017, 05:30:41 AM »
In my area it is positive because people want their kids to walk or bike to school.

As long as traffic is properly routed to major roads and not through neighborhoods.

soccerluvof4

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Re: Effect of a school on property value
« Reply #4 on: December 26, 2017, 04:12:40 AM »
In my area it is positive because people want their kids to walk or bike to school.

As long as traffic is properly routed to major roads and not through neighborhoods.


In my area school with dormitories are usually private and bring a sense of "wealth to the area" and it would be a positive impact.  If your town, city has good zoning etc.. then I am sure for them to build this, especially now a days traffic patterns would be heavily thought of to not impact the area. But there are a whole lot of things based on your opening that we don't know.

Enigma

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Re: Effect of a school on property value
« Reply #5 on: December 26, 2017, 07:04:08 AM »
It is worth noting that neighborhoods are like living organisms.  If no new money and revitalization is happening it slowly dies.  When houses are left vacant they quickly fall apart.  Things popping up around your neighborhood (schools, roads, grocery stores, wholefoods, etc) are a sign that money is funneling into that area.  Positive sign

I'm a red panda

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Re: Effect of a school on property value
« Reply #6 on: December 26, 2017, 04:35:25 PM »
I wouldn't want to live close to a school due to traffic. I've never seen one with well planned pick up lines.