Is buying a house across an elementary school a No?

Question

Hi fellow BPer, I am planning to purchase my next property in GA, and I came across a house located in one of the top neighborhood. Everything is great (condition, rent, school) but the property is directly across an elementary school (parking lot) near a 2-lane road.

I am fairly new to investng and I don't have experience living in or dealing with a house next to a school. Would noise from schools be a major concern to the renter/buyer? Also is appreciation of such a house significantly lower than one on a quieter street? The per sqft is certainly lower but not sure about the appreciation.

It's kinda rare to find a house that could cash flow in such a district, so I am wondering if it's worth pulling the trigger. Any advice is greatly appreciated!

Owen Dashner · Answer

It's not the noise as much as it is the traffic. Mornings and afternoons can be brutal with traffic near schools, especially on a 2-lane street.

With that being said, you may have a stay-at-home parent that doesn't have to worry about commuting during those times and desperately wants to have their child in a good area/school district. If the property is in a top neighborhood like you say, it should appreciate just fine.

I always look for properties in desirable areas. You may have a somewhat thinner applicant pool due to the traffic considerations, but I would bet you'll have good demand. Lots of parents like to be close enough to school to walk their kids to and from. I wouldn't let it deter you from buying it.

Mike Dymski · Answer

Check the traffic out before and after school a few times and you will have your answer on whether or not it's problematic.

Scott E. · Answer

This is absolutely a NO.

Location, location, location. The first thing you should look at when buying a deal, and arguably the most important. Never buy a property that sits next to a school, a busy street, a retail plaza, a church, a high rise apartment complex, etc.

There are a lot of things within your control when you buy a deal. If the house is ugly, it's easy to make it pretty. If the house is small, it's easy to add square footage. If the ceilings are low, it's easy to vault them. If the backyard is underwhelming, it's easy to put in a pool.

One thing you will never have the power to do is get rid of that school.

Kai Kopsch · Answer

Run the comps in the neighborhood and adjust comps minus 15 to 20K for the school traffic.

Eliott Elias · Answer

Ask the neighbors, see how they like living right by the school. Sounds like a plus, your kids don't have to commute at all.

Amy Heitner · Answer

This is why I love BP, great question @Jack Jiang and lots of helpful experience and wisdom shared!

Is buying a house across an elementary school a No?

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