What you need to know about school zones

Every parent wants their child to have the best education possible, which is why school catchment zones are an important consideration for many when buying a property.

Being located within a highly regarded property school catchment can add upwards of 20 per cent to a property’s value, depending on how competitive or popular a particular school might be.

School zones should matter to everyone.

Whether or not you’re a parent, it’s important to consider the impact of school zones. From an investor’s perspective, being located in a popular school catchment can mean the property will benefit from an eager list of tenants who are willing to pay higher rents to live near their preferred school.

Popular catchment zones can also attract a lot of wealthy families to an area and bring a level of prestige with it too.

Things to consider before buying.

Boundary lines can shrink – If you are thinking about buying in an area because you want to take advantage of a school catchment then it’s important to keep in mind that boundary lines can change over time.

Buying too close to the edge of a catchment boundary can be risky as it might mean that you get pushed out of the zone in the future. To avoid this risk it’s best to buy as close to the school in question as possible.

School reputations change – Another thing to keep in mind, if you are buying in the hopes that your child may be able to go to the school long into the future, is that a school’s reputation may change. Don’t pin all of your hopes on one particular school and make sure that the area you’re interested in has other factors that make it attractive to live in.

Families want family homes – If you’re an investor looking to buy in a popular catchment area then keep the end tenant in mind when buying. You might find a great deal on a unit, but most families will be looking at larger homes that are safe and suitable for children to live in.

For more information on school zones, or for any other queries, contact Professionals Ryder Real Estate Melton, today! 9743 6400.