Would a new elementary and middle school 1/2 mile away help or hurt property values?

[vi edit]

Big news around my area is the new school going in about 1/2 mile down the road from where I live. The district purchased 60 acres, not certain how much of that will actually be used. There's several new subdivisions going up all around where the school is going to be, so it is almost completely residential.

My concern is, will this have any affect, negatively, or positively on property values? Has anyone had a school impact your home values?

 

[guyver01]

Originally posted by: vi_edit
My concern is, will this have any affect, negatively, or positively on property values? Has anyone had a school impact your home values?

depends on the school district... a good school district will certainly improve property value, while a bad district will decrease value.

pray for a good district.

 

[LordSnailz]

I think in general it would be a good thing ...

 

[stonecold3169]

Well, I live in a town of about 7,000, and we had a school open up literally a quarter of a mile away and our property value didn't budge.

 

[vi edit]

I'm not certain on the elementary/middle schools, but the high schools in our area rank top in the nation for academics and athletics. So no, they don't suck

 

[kranky]

If all the school traffic will go past your house, it may hurt. Otherwise probably not much impact because some people like being close to schools and others don't, and they'll probably cancel each other out.

 

[iamwiz82]

i know most families with young children will prefer to be near a school. Personally, i would if i had kids or planned on having kids soon. I would feel safer if i could walk the young ones to school in the morning.

 

[vi edit]

Originally posted by: kranky
If all the school traffic will go past your house, it may hurt. Otherwise probably not much impact because some people like being close to schools and others don't, and they'll probably cancel each other out.

Traffic would probably be 50%-75% in front of my house, depending upon bussing routes and whatnot. There are only two ways to access the school. Take the road in front of my house, or come down another side street off the main highway. That's it.

The road that runs in front of my house is currently under construction to widen it and make it better suited for high traffic volumes. At the time, they did it in anticipation of adding 200+ homes and condos, not a school.

 

[Doggiedog]

Depends on how good the school is. Also, if your property taxes go up because of the new school, it can be a negative for your property value.