Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
We are first time home buyers and are thinking of buying a new construction home from Ryan Homes in Delaware.
The public school system in delaware is not good so most send to private schools which would mean more $$$$$ per year.
We don't have kids yet, but are trying to decide if we shoudl take the school district into our buying factor.
There are 2 communities that we have short listed, the first falls under a charter school radius but with bad public schools. The charter school is very good but has a lottery system.
The second community is in th ebetter public school district (appoquimink) but does not fall in the charter school radius. Both communities are by Ryan homes.
By the time we have kids who are of age to go to school it would be another 7-8 years, so should we take into consideration the public schools or not?
Always! You never know what might happen, like a job transfer, and schools matter to most.
Unless you plan on staying well past the neighborhood build-out, you will lose money when you sell. Why buy your used house for almost the same $$ as a new one? A safer bet is a house in an established neighborhood.
Always! You never know what might happen, like a job transfer, and schools matter to most.
Unless you plan on staying well past the neighborhood build-out, you will lose money when you sell. Why buy your used house for almost the same $$ as a new one? A safer bet is a house in an established neighborhood.
So you are saying buy a re-sale instead of new construction. and buy new construction if we plan to live in the same neighbourhood for longer.
The advantage of buying a resale is that you can determine the long-term value of the home more easily than you can with a new home. After all, when purchasing a resale, you can take a look at historical perspective of the community as a whole. In other words, you can see what homes in the area have sold for in the past, both during the housing boom and the recession, which allows you to determine the true value of the home you are buying.
Also, you can know more about the schools, your potential new neighbors, and the area before buying the home. In a newly-constructed subdivision, all of those factors are unknown.
Schools drive home prices in many areas. If one area has good schools and another has not good schools the better schools will be worth substantially more.
For Example...I bought in district A about 7 years ago. I live in a super fast appreciating area right now. But District A has poor middle schools. Not 5 blocks east of me is the dividing line between A & B. My home was built by a semi-custom builder who has a few plans you can pick from and a multitude of lots that you could have choosen.
My exact same home, 5 blocks east of me is worth $80,000 more than mine b/c of the schools alone. Other than the schools there is absolutely no difference between our homes. Built at the same time, with the same finishes, on the same size lot, and its less than 1/2 mile away.
Schools matter. I didn't care when I bought b/c I did not have kids, but I have kids now, and were moving...Im still making a good amount on the sale b/c the area is hot - but I could have made more if I had bought the other house and the better schools....7 years ago though I was younger and more impulsive than I am now.
New construction has an impact on schools,
it increases the tax base and adds new students.
Consider the impact of the new developments on
each school district, the larger the existing student body,
the less effect, the smaller, the greater effect to the positive.
We are first time home buyers and are thinking of buying a new construction home from Ryan Homes in Delaware.
The public school system in delaware is not good so most send to private schools which would mean more $$$$$ per year.
We don't have kids yet, but are trying to decide if we shoudl take the school district into our buying factor.
There are 2 communities that we have short listed, the first falls under a charter school radius but with bad public schools. The charter school is very good but has a lottery system.
The second community is in th ebetter public school district (appoquimink) but does not fall in the charter school radius. Both communities are by Ryan homes.
By the time we have kids who are of age to go to school it would be another 7-8 years, so should we take into consideration the public schools or not?
IMO, as others have said, school districts are extremely important. However, if you have 7-8 years before you would take advantage of that, then as long as you are getting a good deal, who cares? You can always move in 7-8 years, and that would be pretty normal.
What do you guys think of foreclosed home its in the freddy mac 1 initiative or something. I have not looked in foreclosed homes, but this one interests me.
Any pros and cons to buying a foreclosed home?
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
