Regarding schools, they rank well in Florida. As mentioned below, the new Emerald Coast Middle School is under construction. There is a Montessori school in Pt Washington, plus the highly respected Seaside School (charter school), plus the high-scoring public schools. There are no school districts in South Walton. You can choose which school your kid attends for the public schools, but as noted, there is a waiting list to get into the small Seaside School.
Seaside is another great option. Incidentally, the county is building a new Emerald Coast Middle School on Highway 98 right now. The current school buildings will be absorbed into adjoining Butler Elementary, which was the original expansion plan.
I've been here for 10 years. My wife and I have been married for almost 3 years now. My stepdaughter started the 5th grade at Butler and had no trouble being quickly accepted and is very happy here. This is a great place to live!
This is an incredibly beautiful area and I can't imagine living anywhere else! There are lots of options for home buying - just depends on your wants/needs. I'm a real estate broker - so can help you with that too!