Folks, I want to know exactly how much $$ your kid(s) right to attend particular public schools is worth to you (per kid). Let’s assume one in first grade, one in K and and any other kids are not in school yet so let’s assume 2 kids, for discussion purposes.
Let’s break it down here:
What is a “good school” . . . say 9 to 10 on Great Schools) “worth” to a parent today (over and above a similar-sized home situated in an area costing much less with a 7 – 8 school score on Great Schools)?
Another option is: where should a parent of two school-age children today put their homebuying funds based upon what they can afford? Examples:
Elem school 10
Middle school 9
High school 8
House cost will be $850K, rent will be $3500 mo;
Elem school 9
Middle school 8
High school 8
Same house will cost $650K; rent will be $3000 mo, OR:
Elem school 8
Middle school 7
High school 8
Same house will cost $550K; rent will be $2500 mo.
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Food for thought: What would the right to attend a particular HS with a “9” score be worth to a parent who has, say, only a 13 and 14 yo the time of home purchase?
Use money, please, i.e. “I would spend $150K more ($75K per kid for two kids) for a home located in an “8” high school attendance area than I would pay for a similar home situated in “7” HS attendance area” (all other factors being equal). Thanks.
