Home Buying in 07307>Question Details

Rrodriguez646, Home Buyer in New York, NY

Live accross the street from a piece of land which will soon be a school. Will living so close to a school increase or decrease my property value?

Asked by Rrodriguez646, New York, NY Thu Nov 15, 2012

Home is a 3bd single family home.
School to be built is a Pre-school and Elementary school

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Answers

6
Generally speaking it should increase values in the immediate area.
0 votes Thank Flag Link Tue Nov 12, 2013
Hi R,

In general living close to a school is beneficial if you are in a suburban neighborhood.
0 votes Thank Flag Link Sat Nov 17, 2012
In my experience it should increase the value. Most young family's would appreciate living that close. Plus school zones are considered safer than other parts of town since fines are usally doubled.
0 votes Thank Flag Link Sat Nov 17, 2012
It greatly depends on the quality of the school as well, as you can see in this article:

http://www.biggerpockets.com/renewsblog/2011/04/06/school-di…

Sincerely,

Amos Elroy
CDPE (Certified Distressed Property Expert),
SFR (Short-Sale Specialist Certified)
NAEA Member (National Association of Expert Advisers)

Residential Real Estate Investment Consultant
Lic. Realtor Associate
EXIT On The Hudson Realty
(888) 462-6573 / (888) HOB-NJRE
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http://www.HobNJRE.com

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0 votes Thank Flag Link Fri Nov 16, 2012
During the summer I sold a home literally next to the elementary school. It definitely depletes the buying pool I would say by 50% pool BUT can also be extremely beneficial for the right family.
0 votes Thank Flag Link Thu Nov 15, 2012
Thank you!
Flag Fri Nov 16, 2012
Depends upon the buyer but a Pre-school/ elem would likely be a plus for some . I wouldn't see it as a drawback excepting for traffic flow. This is definitely a "beauty is in the eye of the beholder."
Leni
0 votes Thank Flag Link Thu Nov 15, 2012
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