Property buyers need to look at schools – even if they don’t have children

Property buyers should focus on well-respected school districts – even if they don’t have children, says Adrian Goslett of RE/MAX Southern Africa.

“According to statistics, homes that are situated in the best school districts will on average, sell for more than similar homes outside of these schooling zones,” Goslett said.

“Essentially it all comes down to a matter of demand. Areas within proximity to good schools attract a higher number of potential buyers. The increased demand for property in these regions pushes property values up.

“The appreciation potential of a home intrinsically links to the demand for property in the area. Even in a slow market, the resale value of homes in a sought-after area will often fare better and be more resilient.”

However, being in the correct schooling zone can be just as important as finding an area with well-respected schools, Goslett said. This is because the Department of Education will prioritise children within the “feeder zone”, over those that fall outside of the district.

Once all these children are given a place in the school, the remainder of the applicants will be considered subject to availability. If all spaces are filled, the remainder of the children on the waiting list will have to go to their second-choice school.

“It is advisable for buyers to do their research on the schools in an area and how they are ranked before they purchase a property. Additionally, as purchasing property is viewed as a long-term investment, where possible, buyers should assess what plans they have for the future,” Goslett said.

“While they may not currently have children if they are a part of their plans, then considering the schools in a particular area could become a priority that influences their buying decision.”

To get information about schools in a certain area, buyers can contact their provincial department of education or browse the website.

The Department of Education has a countrywide database of all public schools that can be of assistance to property buyers. This database has information such as the school address and contact details.

Read: How to make your money work harder for you in 2017

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Property buyers need to look at schools – even if they don’t have children