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School systems
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01-17-2012 08:05 AM
Schools can be a big factor for buyers when looking at homes. Is anyone currently considering private schools due to high prices in towns with highly rated school systems?
781.462.5317 | Charles.Vallis@redfin.com |See all my deals & reviews
Re: School systems
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01-18-2012 07:19 AM
To me, this doesn't make sense. If you have the money to pay private school tuition for 12 (or 13 years including kindergarten), you might as well use that money toward the house. And especially if you have more than one child, this makes even more sense. The tows with the top rated school systems do not lose value the same way other towns do when housing prices fall - so you are also more likely to keep that investment. Whereas your private school tuition is gone forever. So unless you want a private school for reasons other than a good education (religious affiliation, etc), seems to make sense to just put that money toward a house.
Re: School systems
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01-18-2012 08:41 AM
Our quick back-of-the-envelope calculation showed home prices still weren't low enough in mediocre school districts to come out ahead financially if we had to pay years of private school tuition for our two children. Maybe the calculation would be different if we ran the numbers for homes in truly questionable areas; however, since we weren't willing to live in those places the point is moot.

