{"id":13847,"date":"2017-08-14T10:00:24","date_gmt":"2017-08-14T14:00:24","guid":{"rendered":"http:\/\/www.zoocasa.com\/blog\/?p=13847"},"modified":"2022-08-25T15:46:42","modified_gmt":"2022-08-25T19:46:42","slug":"3-tips-for-choosing-a-home-based-on-school-district","status":"publish","type":"post","link":"https:\/\/www.zoocasa.com\/blog\/3-tips-for-choosing-a-home-based-on-school-district\/","title":{"rendered":"3 Tips for Choosing a Home Based on School District"},"content":{"rendered":"

There are still a few weeks left of summer, and most of us are loathe to give up our flip flops and beach days. But, the reality is that autumn \u2013 and back to school season \u2013 is just around the corner. September will soon enough usher out summer\u2019s dog days for crisper weather and a refreshed focus \u2013 and the real estate market is no exception.<\/p>\n

Following the hectic spring and January market peaks, back-to-school season is one of the most popular times to buy or sell a home. Those who had put their real estate ambitions on hold for summer vacation emerge from the woodwork; buyers may discover less competition and better choice, while sellers will find shoppers are more serious about closing the deal. Generally, everyone in the fall market wants to make their move before the holiday season \u2013 real estate\u2019s slowest \u2013 sets in.<\/p>\n

When Schools are a Top Consideration<\/h2>\n

But buying a home during back to school season can be stressful, especially for families with high education considerations. Buying in the fall can mean moving after classes have already started, or a mid-year change for kids. It means finding a home close to a child\u2019s current or desired school is all the more important.<\/p>\n

In fact, the quality of a neighbourhood\u2019s schools is a top consideration for many Canadian home hunters: Zoocasa\u2019s 2017 Housing Sentiment and Trends Report<\/a><\/em> found it\u2019s a main priority for 39 per cent of aspiring buyers.<\/p>\n

Click here to check out the latest Toronto homes for sale<\/a><\/strong><\/p>\n

That consideration can be even greater for out-of-city or country buyers, says Zoocasa real estate agent Chantel Crisp. \u201cFor these buyers, they have a very high standard when it comes to schools \u2013 school first, then house,\u201d she says. “When we\u2019re in a buyer\u2019s market like this, school districts are among the factors that will influence a purchase.\u201d<\/p>\n

However, choosing a home based on school district can add a whole new layer of complexity to your search. Here are a few considerations prospective buyers should keep in mind.<\/p>\n

Choosing a Home Based on School District<\/h2>\n

1 – You\u2019ll Pay a Premium to Live in a Great School District<\/h3>\n

In some cases, you may pay hundreds of thousands of dollars more to live in a neighbourhood with highly-ranked schools. That\u2019s a not-insignificant chunk that can make or break a home buying budget. However, this premium can greatly differ depending on neighbourhood. For example, a Zoocasa analysis<\/a> of home prices within Toronto\u2019s top-rated districts compared with the city average found living near Etobicoke’s Lambton Kingsway Jr. Middle School commanded a premium of $821,580.<\/p>\n

In comparison, those dwelling near Victoria Park Elementary School in East York would actually save $263,248, highlighting how important it is to research the impact schools can have on local real estate markets.<\/p>\n

It\u2019s for this reason that even buyers without kids often clamour to live in great school districts, as it can help ensure a home\u2019s resale value and insulate it from market price shocks.<\/p>\n

\u201cIt\u2019s a good idea to be flexible. School districts within a 10 out of 10 Fraser rating can still be affordable,\u201d Daniela Melo, Zoocasa real estate agent, says. \u201cIf parents are determined to be in that catchment, there are a variety of housing options they can look at.\u201d<\/p>\n

\u201cIt\u2019s important that buyers do their research \u2013 school districts can change year over year, so they need the right information,\u201d she adds. <\/strong><\/p>\n

Use Zoocasa\u2019s school search tool<\/a> to find homes and schools in your neighbourhood of choice.<\/strong><\/p>\n

2 – Double Check School Capacity<\/h3>\n

However, just because you own a home in a school district doesn\u2019t guarantee your child\u2019s attendance. In many urban markets, and especially in neighbourhoods with growing popularity, school capacity is limited. If your local school is unable to take on new students, that could mean your child is bussed out to other areas. To avoid any unpleasant surprises, it\u2019s important to confirm with your local school board. For example, buyers who wish to attend Toronto public schools can confirm their address\u2019s catchment on the Toronto District School Board\u2019s website<\/a>.<\/p>\n

In areas with booming populations, like Toronto\u2019s condo-crazy Yonge-Eglinton corridor, or the family-centric neighbourhood of Leslieville, some schools have even posted signs warning of closed catchments. This means they’ll only accept students from feeder institutions, and are closed to new enrolment.<\/p>\n

3 – Look At (And Beyond) Standardized Testing<\/h3>\n

The success and quality of schools is determined in a few ways, including rankings and ratings from the Fraser Institute<\/a> as well as the Education Quality and Accountability Office<\/a>. These ratings are based on a school\u2019s average reading, writing and math scores and can provide insight into how kids are performing at those institutes.<\/p>\n

However, it\u2019s important to consider other factors as well: does the school offer additional programs such as French immersion, extended arts, or International Baccalaureate programs? All of these will play into how a school affects the pricing of its surrounding neighbourhood.<\/p>\n

Home buyers can use Zoocasa\u2019s school search tool to browse:<\/strong><\/p>\n