While Traffic in the morning and afternoon can be an issue along with noise, it comes down
to affordability, convenience to walk across the street to drop of the kids, rather than sitting in traffic.
Since, you do not have kids you may want to look else where.
One can also enjoy the school garden and play ground on the weekends and evenings
for a walk.
What is left for you to weigh the pros and cons as enumerated below.
Give points to the pluses and then consider the minuses.
At the end of the day, only you can decide what suits your family needs the best based on several factors:
2) ease of commute or convenience
3) noise level/traffic
You have to choose a neighborhood that you and your family will enjoy living in.
However there are almost always some people looking for what most try to avoid. A family with children who love to be involved in sports and be outdoors could find a nearby school very attractive.
When a school is located on the only through street in an area, the traffic can affect the home prices all along the street.
If the school has access from many different streets and has significant traffic, yes living right across from it may lead to lower home prices than other nearby homes because the traffic is noticeably higher.
Keller Williams Realty
If you are in a highly desirable school district then this might actually be advantageous for you for future resale. There are many people who want to live across the school and watch their kid walk to school.
I lived very close to a school when my kids were young, for several years I did not even realize how busy the area gets, because I worked a corporate job and left the house before school started returned after the school closed. If you are in such a situation you will never even notice the school traffic.
Finally, if you love the house and other things work for you, go for it. If not, find another home.
it does not affect resale value significantly...when you sell people will buy it for similar reasons as yours...location, affordability, etc.
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That said, the question I would ask is how much do you like this home? There will be traffic and noise during delivery and pickup hours; you may hear the kids at recess, etc....Is the home worth that negative to you? How easy would it be to get the same type of home elsewhere?
I think people can drive themselves nuts sometimes by worrying about resale. Buy the right home for you and your family now...be aware of the pluses and minuses for each choice...and make your choice.
Unlike many, I don't think people buy a home for investment purposes. I think we buy because it's part of the American dream and we want a secure place to live.
School bells, speaker announcements, special events, and drop off and pick up can affect your enjoyment of your home. The speed zone is going to be slower which is a plus.
If you must buy this house, then you should drive there during traffic hours and talk to at least a neighbor before the final decision.
As Mr. Feng pointed out, Whether or not the house is directly across the street from the elementary school, or several blocks away, but still within reasonable walking distance, generally does not have a significant effect on the resale Fair Market Value, however many people with small children prefer a home as close as possible to the elementary school that their children will attend. That will boost the marketability of the home to parents of small children who will attend that elementary school, but it probably will not result in a significantly higher sale price.
However, if the house is far enough from the elementary school that the children must ride the bus, that does have a significant negative impact on the fair market value of the house..
Whether or not you want to live across from the elementary school is a personal decision. As Mr. Feng pointed out, there will be traffic from parents bringing children to school and picking up children from school.
Charles Butterfield MBA
Real Estate Broker/REALTOR
Cell Phone: (408)509-6218
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The only downside that I can think of, since you don't have children, is that you will have a lot more traffic on the street during school hours.
If you have further questions give me a call at (408) 840-3852 or Thomas.Feng@gmail.com