ArcaMax

Reader Question: I'm thinking of purchasing a property next door to a school. At first, I thought the noise would be the only concern, but friends mentioned it might also affect resale value. Can you explain? Wouldn't proximity to a school be a good thing?

Monty's Answer: Many buyers put "close to a good school" on their wish list, but living next door is a different experience. The impact on future value hinges on location, school quality and how the campus operates day-to-day. Weigh these factors:

No. 1: Traffic and parking. Drop-off and pick-up windows can clog the street with cars and buses. If the school lacks adequate stacking lanes, vehicles may block your driveway twice a day and again for evening programs.

No. 2: Noise and hours. Children at recess, band practice, public address systems and night games create a steady soundtrack. Buyers who work from home or on night shifts often eliminate such homes from their list.

No. 3: Safety and privacy. A constant stream of unfamiliar adults and teens passes your property line. Younger children wandering onto your lot is a liability exposure.

No. 4: School quality and stability. A top-ranked, financially healthy school can offset nuisances because parents will pay extra for walkability. An underperforming or shrinking school district has the opposite effect, and a closed campus could become something less desirable.

No. 5: Weekend and evening use. Gyms and athletic fields are rented to community leagues. Friday-night football or outdoor lighting until 10 p.m. can be free entertainment or unwelcome commotion.

No. 6: Expansion rights. Schools are tax-exempt and usually zoned for future growth -- more buildings, lights, or bigger parking lots. Review the district's facilities plan and ask about upcoming projects.

Beyond sound, consider smells: diesel fumes from idling buses, cafeteria exhaust at lunchtime and locker-room laundry on game nights can drift across property lines. Property taxes may also creep upward if the district funds expansions through referenda that boost the mill rate, so the budget for future levy hikes. At the same time, the convenience of a built-in playground and lighted sidewalks can be a lifestyle bonus.

Resale Effect

National data are inconclusive because "school-adjacent" ranges from a quiet elementary school to a stadium complex. In practice, a next-door location narrows the buyer pool. Fewer bidders mean downward price pressure. Anecdotally, discounts run from negligible (fast-growing suburbs with award-winning schools) to 5-15% (where traffic or noise is pronounced). Hot seller markets can erase the gap, but remember, markets cool.

Due-diligence Checklist

-- Visit the location at 7 a.m., noon, 3 p.m. and during an evening event.

-- Walk the perimeter with a sound-meter app.

-- Check public records for planned expansions or redistricting.

-- Speak with abutting owners who have sold recently; ask how many buyers balked at the school.

-- Verify local disclosure rules -- future purchasers will ask exactly what you are asking now.

Negotiating Strategy

If the property checks your other boxes, adjust your offer. Compare recent sales of similar homes not adjacent to the school, subtract a realistic inconvenience factor, and require contingencies long enough to complete the homework above. The price should reflect the smaller audience you will face when you sell.

Decision Time

Proximity to a school can be a plus, but once you are literally on the property line, the lifestyle trade-offs and resale risk grow. Decide whether the convenience outweighs the daily realities and negotiate accordingly.

Richard Montgomery is a syndicated columnist, published author, retired real estate executive, serial entrepreneur and the founder of DearMonty.com and PropBox, Inc. He provides consumers with options to real estate issues. Follow him on Twitter (X) @montgomRM or DearMonty.com.

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