Why You Should Invest in Communities with Great Schools
If you’re a parent and you are about to start shopping for a house to live in, one of your first thoughts will be, “I want to buy in a community that has top-notch schools.”
As a real estate investor, you should be thinking that way too. Communities with good schools are the best places to buy residential properties. If you will be renting out the properties you buy, you will enjoy the benefits of a more stable tenant population. And when it’s time to sell properties, they will be in greater demand and sell for more.
Here are some ways to gauge the quality of a community’s schools before you invest . . .
- Visit the reference desk at a public library in the community and ask how you can find out about the school budget and the community’s record of support for it. A town that defeats its school budgets is not the place to buy investment properties.
- Walk by a few of the schools at the time of day when parents are dropping off or picking up their children. Do they look like the people you want to buy or rent your properties? There are few better ways to get a sense of the people who live in a town.
- Ask local residents about the quality of the schools. Don’t be shy about talking to store proprietors, parents who are enjoying parks with their children and anyone else who is approachable. Most people will be happy to share their opinions – both positive and negative – with potential investors.
- Try to set up a meeting with someone at the board of education or with an administrator in one of the schools. Ask about the students, their families, the level of crowding in classrooms, and more. If you explain that you are interested in investing in the town, you should be able to find some cooperative educators who will share their observations with you.
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