Selecting a Neighborhood Do Schools Impact Values?

What do you look for when you're researching a possible new neighborhood? Movie

buffs will tell you that it's essential to be near a state-of-the-art theater. Fitness conscious New Yorkers will want to investigate whether there's a good health club within walking distance. Parents, however, have a different agenda. In addition to their own criteria, they also have the needs of their children to consider.

When selecting a new neighborhood, parents are interested in quality of life issues that will affect their kids. Besides recreational facilities like parks or playgrounds, they'll want to know whether there's a good school within walking distance. According to real estate experts, buyers who can offer this hot commodity appear to have a definite advantage in the co-op and condo marketplace.

Proximity Equals Convenience

Proximity to good schools does affect your real estate investment, says Cathy Slattery, a broker with The Corcoran Group in Manhattan. It's definitely a selling point. Slattery, who lives and often works in Carnegie Hill, always mentions the large selection of desirable schools in her neighborhood whenever she talks to buyers about the area. It's one of the very nice features that I play up.

Read More...

Related Articles

Younger Buyers, New Approaches

A New Generation Moves In

Influx of NYC Homes Could Be a Boon for Buyers

Meanwhile, More Families Are Renting, Says Report

Report: 3-Week Luxury Sales Streak Peters Out

Only 15 $4M+ Properties Signed into Contract Last Week