Will the Pike Road School System affect Home Values?

February 4th, 2014 categories: Pike Road, Schools

There are homes for sale in Pike Road right now that will be zoned for the new Pike Road School System.  What does that have to do with real estate?”

What sort of response do you suppose you would get if you asked parents of school aged children how important the school their children would attend is to them?  I would imagine that to most parents, schooling of their children is one of the most important things in their life.  That being said, would schooling options have an impact on which house a person buys?   Let’s make this a little more specific to our situation here in Montgomery County by looking at the schooling options.

There are several ways for parents to educate their children.  Some methods such as homeschooling and private schools do not require a specific location.  For those using public schools, obviously school zoning is very important when buying a home.

Let’s fast forward a little.  2015 is the opening of the Pike Road School System.

Do you think that will increase demand for homes in Pike Road?  I do.

Do you think increased demand for Pike Road homes will also increase price?  I do.  Of course, we can’t predict the future, but just like looking at stock prices, you need to have a little bit of foresight to keep from paying top dollar.  Buying stock in Netflix today may still be a good idea.  I don’t know.  But it sure would have been a great idea 3 years ago.  I can’t say for sure if buying a home in Pike Road is a good idea, but in an unpredictable world, I would give it a much better than 50/50 odds, just based on the new Pike Road School System. Dr. Ed Richardson stated in this video that he thought a new school system would do wonders for Pike Road area home values.

To summarize, a 2013 article from realtor.com addresses this topic in an article called “The Right School District:  How Much Do Schools Affect Real Estate Prices?”   Read the last paragraph of the article.

Clearly, though, consumer demand is large enough that we can conclude that good schools do increase home values in some measure. Half of the home-buying population is willing to pay more than their intended budget to get into the right school district, and more than half would give up other amenities. Making a decision on buying a home should definitely include an analysis of the school district, even for buyers who don’t intend to send children to those schools. Good schools provide stability for a community, and that’s good for the property values of everyone who lives nearby.

You can read the full realtor.com article here.

In conclusion, part of the campaigning for a new Pike Road School was increased property values in the town of Pike Road.  That has not really come to fruition yet, but in a country full of procrastinators, I would image that the 6 months prior to the school opening in 2015 will be a wave of action trying to buy homes zoned for the Pike Road School System.

You may want to beat the rush and buy a Pike Road home before, as the Realtor.com article finds, prices are affected.

If you are looking to buy a home, whether it is our first home or last home, Pike Road is a great choice.  Pike Road was recently named one of the top 12 zip codes in Alabama .

If you are looking to buy…or for that matter sell a home in Pike Road or East Montgomery, call 256-853-0357 or email [email protected]

To take a video tour of neighborhoods in Pike Road, visit the Neighborhoods page.