Learn more about how school perception shapes the real estate market.
Are you interested in real estate in beautiful Northwest Ohio? Today, we’re going to delve into a crucial aspect that affects property value. Let’s unravel this mystery.
Many might think property taxes are the number one determinant, but they’re not. They tend to rise, not fall, and are based on property valuation, affecting everyone equally. The state of a house is vital but not the top factor. A motivated couple can turn a rundown house into a gem, while a negligent owner can diminish the value of a great property swiftly. Even the size of the property isn’t the ultimate decider. Thanks to basements in Northwest Ohio, a small home can be made spacious without breaking the bank. In this region, everything is conveniently within a 15-minute drive. So, it’s not the geospatial location that takes the top spot.
The No. 1 determinant of property value in Northwest Ohio is the perceived quality of the local school system. Your home’s resale value is significantly influenced by how the public perceives the nearby schools.
“Voting in the Board of Education elections can help shape the future of local schools.”
So, what do the official ratings from the Ohio Department of Education for 2023 tell us?
- Ottawa Hills: 5 stars
- Perrysburg: 5 stars
- Anthony Wayne and Waterville: 4.5 stars
- Eastwood and Maumee: 4 stars
- Sylvania and Woodmore: 4 stars
- Genoa, Bowling Green, Springfield, and Lake: 4 stars
- ISEO and Toledo: 3.5 stars
- Washington Local: 2.5 stars
These ratings align with what people generally think when they move to the area. However, Washington Local might be perceived a bit higher at 3.5 to 4. The quality of schools is a crucial factor that impacts property prices. It correlates with sales prices, dollars per square foot, days on market, and inventory supply.
So, what can you do about it? You might not have control over school quality, but you have a say in it. Voting in the Board of Education elections can help shape the future of local schools. So, exercise your right to vote and have a say in the most crucial factor affecting property value.
The real estate market is in a constant state of flux. The strategies used in buying and selling homes today would have been unimaginable a few decades ago. Our team is always evolving to stay ahead of the curve. We’re here to assist you with your real estate needs, providing you with a tradition of trust based on fundamental principles of honesty and respect. We look forward to helping more people buy, sell, manage, and grow their real estate holdings.
If you have questions or need assistance with real estate in Northwest Ohio, don’t hesitate to reach out to us at (419) 466-SOLD.
