If you had to choose between purchasing a nicer home or a home in a better school district, would you know what to choose when considering home value?
Melissa Sofia, Broker/Owner of The Avenue Home Collective was on Smarter San Diego TV to educate us on this very subject. Read below for her expertise in her own words:
"I have been helping buyers for 16 years and other than price, one of the top criteria for buyers when they search for a home is school district. In fact, many times, buyers will adjust their other criteria like size, age or price of a home just to be in the right school district. That is how important a consideration it truly is.
People always ask -better home or better school district: what should I pick?!?
As a Realtor, I advise clients to buy the best investment possible based on the likelihood of resale value holding or hopefully increasing. With the sheer number of people who hold school district as a top if not THE top priority in their home search, that is a huge factor for resale value. Yes, you will pay more to be in a good district, but so will everyone else. So the better the school district the more likely your home will hold value even when the market fluctuates. It can protect you from a down market.
Of course when you are buying a home it's all about the give & take so you need to prioritize what is most important for you. So, say you are on the brink of affordability of a detached home in an ok school district or a condo/townhouse in a great school district, but you know you will be absolutely unhappy in an attached unit-FOLLOW YOUR HAPPINESS. Resale value aside, never buy something you will come home to regretting every day.
Another thing to consider is to buy for the mid-term. Buying for the long-term can box you in early when you have more options. Buying for the short-term lacks foresight and time flies , so if you know you have a child who will start school in the next 2-3 years, avoid buying in a less desireable school district or you may feel pressured to move sooner than what is affordable for you. On the flip side, say you have a pre-school age child, don't stress so much that you are buying in an area where the middle or high schools are not as good. If the elementary schools in your neighborhood are great, go for it! The likelihood your entire situation will change in 10 years is high.
Properties can always be remodeled, landscaped, or upgraded into a Smart Home- and floor plans can be changed over time. There are so many things you can do to a home, but one thing you cannot change is the school district.
Let's talk about local school districts:
Best school districts across multiple ranking platforms are
1. San Dieguito School District
2. Poway Unified School District
3. Coronado School District
San Dieguito holds 2 of the best public high schools in california
Canyon Crest Academy is #2 and Torrey Pines at #10
Poway Unified has Westview High School close behind at #16
If you are a buyer looking in San Diego right now, a couple tips for you: First of all, you have to consider affordability. The median home price in PUSD is closer to is about $700,000 while the median price in San Dieguito is 1.8 million and coronado is about 1.6 million.
So it's easy to see that most San Diego buyers when trying to afford the best school district head toward Poway Unified."