All Things Real Estate: Are you purchasing a home or a lifestyle?

All Things Real Estate: Are you purchasing a home or a lifestyle?

When buying a home the quality of the schools is a major factor, especially if you have or plan to have children, and even for those not considering having children, but for the purposes of resale.  The more advanced the school district (students scoring higher in math and science and other crucial tests) the higher the home values are in the short and long run.

According to the National Bureau of Economic Research, every $1 increase in state aid per pupil has an aggregate effect of raising housing values by $20.  So there is a direct correlation between quality school districts and the price of homes.   Janelle Ward, who is a content journalist for, wrote a piece that provides additional proof about quality schools and the value of homes in those areas.  You can read her column online and click on the short link there: valueofhomevschooldistricts.

The unfortunate problem is within those school districts that perform adversely, home values can be diminished and be considerably lower.  The solution is to attract better-quality teachers and pay higher salaries.  This will only be accomplished when those states consider providing more aid to bolster those underperforming schools.  But it’s also the parents’ role to be more disciplined and create a better environment by making sure their children study more.  School administrators need to keep the students occupied with better after-school physical and thought-provoking activities with safe places to congregate and not hang out in the streets with those who may not have a quality future.  So schools play a major and monumental role for most buyers in their purchasing decisions.

Secondly, many may not contemplate or realize it is not just about buying a home.  What is also tantamount in the process are the amenities in the community or surrounding areas, whether it is ongoing and regular activities for children as well as for adults.  In order to build strong quality roots within the town, one must also see if there are any service clubs like Rotary, to join in order to bolster the quality of life and give back to the community with programs to assist those who may need it most.

This will surely aid in building potentially new long-term relationships and friends while adding to a quality lifestyle. Once you do your research and make a decision to buy nto a community, this will only be the beginning of your journey to make connections with your neighbors.  What I have seen over the years has been a decline in block parties.  A concerted effort should be made to bring them back.  This could lead to rekindling past relationships or begin new ones to get acquainted with your neighbors.

The COVID-19 pandemic has been detrimental in keeping people away from each other as they have made serious moves out of crowded cities to the suburbs over the last 3-plus years.  Unfortunately, there is now another new highly mutated COVID-19, variant called BA.2.86 (nicknamed Pirola) around the globe that is apparently been found in Virginia, Michigan, and now possibly in Ohio.  However, the other 47 states appear to be fine.

So start now to make up a colorful flier and distribute it around your block and see who responds to get together to form a committee to create a beneficial block party.  Maybe a fund-raiser could be the main theme for a local or national organization. Make sure that it is also fun for the kids as well.  This will enable them to begin to connect with new kids on the block and build new bonds and lifetime friendships.

Being outside would be a safe space to congregate during your block party.  But for those who feel a need and more comfortable wearing an N95 mask during the event that would be a healthy course of action.  Scheduling meaningful regular block parties will also create a camaraderie that would not normally occur without these types of events.

Find out if there is a community pool, established safe and updated parks, restaurants, and local events that are regularly scheduled on a yearly basis.  If you have a hybrid work environment, see how far away the LIRR is as that may also be an important factor, too.

Are there special happenings occurring within the town during the holidays?  Inquire where the religious institutions are located, so you can visit them to determine if they are a good fit.  There are many variables that will go towards contributing and creating a lifestyle that you and your family will be happy and comfortable within your specific budget.  One must make a list of the items that are most important to your family besides schools to be sure that when you submit an offer that gets accepted, you will then be investing in your most valuable asset, your home and that everyone will be happy in their new surroundings.

Philip A. Raices is the owner/Broker of Turn Key Real Estate at 3 Grace Ave Suite 180 in Great Neck.  For a free 15-minute consultation, value analysis of your home, or to answer any of your questions or concerns he can be reached by cell: (516) 647-4289 or by email: [email protected] or via https://WWW.Li-RealEstate.Com


No posts to display


Please enter your comment!
Please enter your name here