How The Right School Zone Can Increase Your Property's Value
Buying in the top school zone can increase your property’s value by as much as 2.5 percent in Sydney. Recent research by Monash University has shown that securing an address in a prized school catchment is beneficial for more than just getting a seat in the state’s best classrooms.
But what’s the trick to buying into these highly sought after suburbs at a price you can afford? With the help of property negotiators, Hello Haus, you can reap the benefits of better education for your littlies and open the door to higher house value in the future.
Recent Hello Haus clients in Sydney and Melbourne have followed the trend of buying into popular school zones, making it a main component of their next home purchasing decision.
School zones are key to property decision making
Hello Haus clients, Kylie and Jason Loh, considered several local suburbs before settling on Glen Waverley, Victoria in part because of the school zoning and perceived higher property growth prospects.
Working with a very specific budget, Hello Haus were instructed to act on their behalf in the purchase of a home listed at $1,250,000. With their target price set at $1,225,000, the final sale price came in at $1,188,000 – a saving of $37,000 and a whopping $72,000 below the suburb median price for similar homes.
Not only were Kylie and Jason able to afford the higher value suburb, but they netted a big enough saving to make substantial upgrades to the home and an address in a prime school catchment.
Suburb step up in Sydney
Likewise in Epping, New South Wales, Hello Haus customer Venkata Rao weighed up buying in the suburbs of Epping, Carlingford or Beecroft. Each offered with different schooling zones and a wide range of median home prices.
They were determined to buy in Beecroft to be within easy walking distance of the leading local secondary school, Cheltenham Girls High School. Hello Haus secured a home on their behalf at $1,409,500. $227,500 below the Beecroft house price median. We achieved their ideal school zoning and put them in the best position for to realise premium house price growth in years to come.
Suburb selection a fast track for investors
Investors would be wise to take note of the premium price growth afforded these areas too, with rents achieving higher levels for the same reasons as listed above. Buying into the right school zone will boost your return on investment and pay off the asset faster.
Are you thinking of upgrading your school catchment for your children’s future? Or are you looking for more space as the family grows? Employing an expert property negotiator will help make your property dreams reality, for you and your family.