Top schools can raise the value of your home

Top schools can raise the value of your home

High performing schools nearby can add massive value to your property, and not just in the urban jungle, more rural communities are seeing the effects too.

Some parts of the country are seeing a 4% premium for properties close to schools. Yorkshire has a 4.6% premium while the West Midlands is experiencing a 3.6% premium. School performance tables have a tremendous affect on the value of surrounding properties.

When a family is looking to move, their primary concern is usually the location of the high achieving schools, and how close they can get to them.
There are those who move purely to be close to these desired schools. These catchment areas tend to be quite small, so demand is high. By having a 10% higher pass rate in a particular school can add around 6,000 to the value of a property within the catchment area.

If you are looking to sell your property it is worth mentioning this to viewers. While it may not always be relevant at that moment in time it is certainly an additional selling point to those who may be thinking of starting a family in the future. A great way to add value to your home is to find out the Ofsted rating for the nearby school and the standard of local nurseries. Have this information included in the estate agent's particulars.

Demand for places at good primaries schools has risen since the recession hit. Many previously opting for private prep schools are now unable to afford the fees and are looking for good quality education without the additional cost of the private system. The cost of relocating to be within a specific catchment area against the cost of paying for private education is a consideration for many. Some high performing schools even have extensive waiting lists.

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