Homes Near Good Schools Come With a Premium

Private Property South Africa

Figures from the property analyst, Lightstone, have shown that suburbs in all the major cities in South Africa which have established good schools, producing satisfactory academic results, are rated very highly by potential homebuyers, says Tony Clarke, managing director of the Rawson Property Group. Those looking to invest in property should always consider how well supplied an area is with good schooling.

"In general buyers will pay a premium of 40% or more for the sort of standard three bedroom, two bathroom home that most families these days occupy if it is in an area which is designated as part of a school feeder district and if it gives their children easy walking or cycling access to good schools.

For example, in Cape Town, a home of this type in Rondebosch, which has easy access to at least eight or nine good schools, will have an average price of R2,6 million. The same home in, say, Muizenberg or Hout Bay would probably cost well under R2 million."

![Rondebosch](/ftpupload/UserImages/images/img1_e (1)(3).jpg "")

A Gracious Rosebank Victorian Home. For more info:

Clarke says that middle class South Africans often also look for schools with a strong sporting tradition. "They like to feel that if their children have a sporting talent it will be nurtured and fostered." Similarly, many parents are adamant that their children must attend schools in which there is good music coaching and some will also look for supplementary cultural activities such as drama and art."

Areas in which there are several schools do tend to become less congenial to residents on account of traffic congestion and noise, with the result that they are not favoured by young couples without children or with children too young to attend school. They are also not favoured by retirees.

"Where an area has just one good school this tends to be the ideal arrangement - it will not be overcrowded and will have a pleasant, congenial atmosphere, because the numbers visiting the school each day are fairly limited," Clarke says.

*Taken from Bizcommunity with permission from Rawsons.

Looking to sell your home?
Advertise your property to millions of interested buyers by listing with Private Property now!
Find out more


Found this content useful?

Get the best of Private Property's latest news and advice delivered straight to your inbox each week

Related Articles

Home seekers own due diligence
Doing your own due diligence on the cosmetics of the home you are intending to buy, will allow you to budget better.
Combat climate change from your garden
Choosing the right plants could help you combat climate change, right from your garden.
The in's and out's of property co-ownership
Joint purchasing and co-ownership are an excellent way to get a foot in the property market, but it is essential to enter the partnership with a legal agreement firmly in place.
Watch out for these holiday scams
It's is easy to get caught up in the hype of a good online deal and before you know it, you are scammed out of your hard earned money.