I'm considering purchasing a duplex...good neighborhood, nice property, but I'm hesitant because it's right across the street from an elementary school. I would be living in one unit and renting the other. I imagine that the traffic and noise at certain times of the day may be a nuisance. Anyone have any experience/advice on the situation? Any other pros or cons with living across from a school?
Have to agree with @Jason D. that's a big plus in being able to rent it. people like to live close by schools, especially if your town has more than one elementary school, sometimes they like to buy as close to " the better one" as they can.
I lived in front of an elementary school and it was great. 15 minutes early and 15 minutes at 2:45 were the only down side. Not too many evening activities at the elementary level unlike the middle or high school. No student drivers. Total plus when I had little kids.
I own two properties within eyesight of an elementary school, and both were house-hacks. I think its fantastic. I loved living in both of them. One of the great things about being next to an elementary school, is that the properties were in "up and coming" areas of my city.
Nobody is dealing drugs or committing violent crimes within 1,000 feet of an elementary school. Aside from the much higher penalties that sometimes come with committing crimes in close proximity to an elementary school, the schools are heavily policed.
I think that I'd start to get a little more hesitant about investing next to a high school, particularly in areas that are not "A" or "B" areas. I don't want high school kids (or even middle school kids) to be walking past my property with nothing to do every day, especially if nobody is home with tenants with day jobs. But elementary school kids? No problem.
Rather than avoid being near elementary schools, I see being near them as a plus. As @Christine Kankowski mentions, it does get a little busy in the morning and afternoon with pickup and drop off. But other than that, no problems.
Great, thank you for the input everyone...super helpful!
BTW, @Scott Trench, I just read your book "Set For Life" and loved it!
One of my rentals is a block away from an elementary school and I have to agree with everyone else - it has been a total plus. It attracts small families that want to be able to walk their kids to school. Good luck!
lived across the street from an elementary school
Was a great place to let out dog run after school and on the weekends
Great, thanks so much for the info everyone. I'm gonna take your advice and go for it :)
I wouldn't buy in front of a school because of the traffic. Parents want to be near a school not in front of the school. When it comes time to sell you will have to sell at a lower price point compared to your neighbors.
The only exception I would make is if the home was in a fantastic school district and/or school and it was priced lower then a similar home further away. Parents love great schools and they are willing to live in an expensive home/apartment with substandard/lower quality of life in order to send their kids to the school. Those homes go up in CF and value regardless of the traffic issues.
Create Lasting Wealth Through Real Estate
Join the millions of people achieving financial freedom through the power of real estate investing