One of the most important drivers of real estate values is the school ratings.
When I bought our current home in Avery Ranch Patsy Sommer Elementary which is now rated a 10 didn’t exist. I knew the school district owned land for the school and when it eventually would get built it would be great for the property values in the neighborhood.
In my opinion there are some good opportunities right now in neighborhoods that are being re-zoned to new schools.
For example this article shows the projected re-zoning of neighborhoods in the Leander school district.
Two of the neighborhoods shown in the map are projected to be re-zoned from an elementary school where the school rating is currently a 5 to a brand new elementary school.
Both neighborhoods are close to Avery Ranch and have been attractive to our clients but solely because of the school rating they have selected a different neighborhood to purchase.
I expect when the new school opens we will see that objection for the neighborhoods go away and the property values will likely increase. It will take some time before most homebuyers understand the neighborhood will be re-zoned.
At this point there is no guarantee that these neighborhoods will be re-zoned until the decision is final and of course the neighborhoods can always be re-zoned again in the future. I’ve also talked in the past about school ratings not necessarily correlating to a better education for your kids.
However I do think this is a good opportunity for investors to purchase with a better than average expectation of appreciation.
If you are interested in learning more about affordable neighborhoods with good school ratings please call/text Eric Peterson at 512-791-7473 or email at eric@koparealestate.com
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