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Friday, October 16, 2009

Making the Grade

How to evaluate local schools carefully prior to buying that home

Few home values may be affordable and enticing, but it’s important for prospective purchasers to practice old-school values before signing on the dotted line. That means testing the mettle of area schools carefully – not only to ensure that your children will receive a quality education, but to increase your chances of higher resale value down the road, say the experts.

Rhonda Duffy, owner/broker, Duffy Realty of Atlanta, says that if you want a home that will sell quickly if you ever need to move in the future, “you should consider buying in a district that has a long history of awards and high scores. The resale time and rate of a home for sale will not be the same as a home in a good district.”

For these and other reasons, Bill Kerr, owner of Modern Scribe, a Naples, Fla., company that provides school-district info, says that it’s vital to research the quality and performance of your local school district prior to purchasing a home.

“If you become unimpressed with the public schooling options available for your children after moving into a new home, you could find yourself paying private-school tuition,” says Kerr.

Indeed, with money tighter than ever in a poor economy, “these days, many people are willing to spend more money on buying into a better school district than paying for higher tuition,” says Joan Berngen, sales associate, Coldwell Banker Residential Brokerage, Oak Lawn, Ill., and past president of the Realtor Association of West South Suburban Chicagoland, Downers Grove, Ill.

Before embarking on your own academic-geared investigation, talk at length with your real-estate agent. Ask for local school rankings, standardized test scores of schools within the district where you’re thinking about purchasing, and the names and numbers of area school contacts.

“A good Realtor should furnish the phone number and basic information on a school, but it’s important for clients to own the information,” says Berngen. “You need to actually visit and research the schools carefully,” says Berngen. “Most schools are receptive to giving tours.”

If you’re smart, that means scheduling a time to visit the campus, walk through the classrooms, and conduct a face-to-face meeting with teachers and administrators, if possible. Be sure to ask plenty of questions about the school district, including queries about class size, the ratio of pupils to teacher in an average classroom, if and when there will be boundary changes, the variety of classes offered, after-school activities available and more, says Berngen.

Kerr says that your state’s department or board of education should have a Web site where school district rankings, test scores and school “report cards” are posted. School report cards are typically published every year by the board of education in each state and provide data from each public school district in that state. Included in the report are standardized-test scores, teachers’ qualifications and wages, and student demographics. Potential home buyers can glean these numbers and averages quickly and easily to compare schools in each district, enabling them to make a more informed decision.

Standardized testing scores are, in fact, the most important criterion to factor when scrutinizing a school district, Duffy says. Additionally, look for schools offering quality special needs programs, Magnet classes and reputable sports programs.

When gathering data to compare schools and districts, keep in mind that “test scores and school rankings tend to be relatively up-to-date,” Kerr says. “Whereas teacher salaries, dropout ratios and other information which is more complex to gather are usually published with a year or more delay. If the test scores look strong over the last few years, a school is probably fostering an enjoyable learning environment.”

Don’t limit your research and decision-making to a comparison of area public schools only, says Duffy.

“Potential buyers should know of all private school options, as an area with a wide variety of schools available makes a home resale better,” she says.

Lastly, it’s wise to learn if any future schools are planned for the area. Duffy says that “most counties now post a map of proposed schools.”

Copyright © CTW Features

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