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I really enjoy this site and have been reading it for a while now, and I'm curious as to what people think about the relative importance of public schools "on average" for the person deciding where to buy in Westchester.
We bought almost a year ago in Hartsdale, and intend to use private schools, but I can totally understand people who place a higher premium on public schools than I do. I've also talked to a number of friends in Scarsdale, Bronxville, and Edgemont who are only there for the schools and who plan to move to lower-tax areas as soon as their kids graduate, because they want to finally buy the most comfortable house that they can afford on the kind of land that they want.
I'm curious as to what people think. Obviously buying a house is an intensely subjective decision that varies for each person, but I'm curious about how important the "public schools factor" is, on a scale of 1-10. (10 being most important.) How does it rank against square footage, NYC commute time, lot size, neighborhood, etc?
Yes. Despite the intent to use private schools the decision to buy in a good school district usually pays off for resale value and as an alternative, if finances become tough or junior gets caught partying or something.
If you intend on using the schools, then it would be a factor. The only reason that I can think of where the school might be a factor, even if you don't intend to use it, is if you have reasons to believe that an area with no so good schools are more prone to decline in value. For Hartsdale, I don't think that's the case.
Yes. Despite the intent to use private schools the decision to buy in a good school district usually pays off for resale value and as an alternative, if finances become tough or junior gets caught partying or something.
I don't think re-sale value gets hurt because of not so good school. You would've bought low. But in New Yawkers case, if one intends to pay for private schools, then why not just buy into a better district and pay the tax instead and not risk anything that may happen to future house value that may be related to the not so good school.
But in New Yawkers case, if one intends to pay for private schools, then why not just buy into a better district and pay the tax instead and not risk anything that may happen to future house value that may be related to the not so good school.
Because honestly, I'd prefer not to pay higher taxes for a smaller house and land merely because the public schools (which I don't intend to use) are considered good. Plus, I'm looking to live here for 30 years or more, and not looking to move as soon as my kids finish highschool. For me, the calculation was size of house, size of land, commute to NYC/convenience of train, and public schools ranked very low. I pay 12K in taxes as it is for an average school district, that's already high for me.
I think schools and commute determine where people buy. Larchmont costs more than comparable school districts further north so it is not merely schools that determine house values but proximity to NYC. My family all live in good school districts but pay less than me for more land because I have a shorter Manhattan commute.
Around here, schools are a factor in housing more than they are almost anywhere else. You also see a lot more "nitpicking" where a district that would be "top notch" in most parts of the country can be considered "mediocre" by many here.
Because honestly, I'd prefer not to pay higher taxes for a smaller house and land merely because the public schools (which I don't intend to use) are considered good. Plus, I'm looking to live here for 30 years or more, and not looking to move as soon as my kids finish highschool. For me, the calculation was size of house, size of land, commute to NYC/convenience of train, and public schools ranked very low. I pay 12K in taxes as it is for an average school district, that's already high for me.
Then you're better off keeping your money in the bank. The 3 rules of real estate are . . .
Then you're better off keeping your money in the bank. The 3 rules of real estate are . . .
That's what I figure as well.
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