One of the number one requirements that buyers have when looking for a home is great schools. 🏫
And it’s totally understandable.
But let’s look at a comparison.
You can buy a home in my area with an average schools for about $2 million.
If you want to buy in an area with excellent school ratings, you’re looking at at $3.5 million.
That’s a $1.5 million difference even when neighborhoods are pretty similar.
Now compare that to private school.
You can put your child in private school for about $20,000 per year.
$20,000 per year ✖️13 years ➡ $260,000
So you can pay $2 million for a house and roughly $300,000 for private school education or you can jump up at least $1.5 million and not have to pay for private school.
It really depends on what a higher school rating is worth to you.
This is just another way of looking at how much you’re paying for a house and what kind of neighborhood you absolutely have to be in.
Does it make sense to spend more for better schools? Which option would you choose? Let me know in the comments.
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