Finding the right school

by Shawn Lackie Many years ago, when we first started our home-owning journey, we looked in a number of areas in Toronto. For us at the time, the main criterion was: could we afford this? Even if it meant living in what would now be called a scuzzy neighbourhood (is scuzzy even a word?). At any rate, we looked everywhere and settled on a place we could afford. That was the main thing. We could afford to buy the place, and that was all that mattered. Well, it seems that’s not the main consideration these days. We have all heard about walking ratings in neighbourhoods and how they might affect your purchase, but school locations are now a major influence on buyers' decisions. Forty years ago we had the Duke of Connaught public school at the end of our street, but if I’m reading the tea leaves these days, that’s not enough. You need some solid proof your little people will get the very best education money could buy. Public money, of course. Best wishes with that. My wife and I both went to school in Port Perry. Elementary and secondary, and are none the worse for it. So what’s with the obsession with higher education in your area? I get that we all want a better life for our kids and so on, but when do you cross the line into uncharted territory? By which I mean trying to deal with something you don't know. The last three generations have bent over backwards trying to make a better life for their children. I had relatives who taught for many years, and I can guarantee they never faced the urban education jungle we live in now. So how can you solve that problem? Many years ago I had a client, a former CFL player, who wanted to base their home purchase in the proximity to the best school in the area. In Oakville. Okay, sounds good. We drove around for hours and viewed places along the way. We had to stop in the local High Schools so he could go in and interview the athletic director. Most schools I grew up in never even had that person. But there he was, asking all sorts of questions that would determine whether they would go to that school. Ultimately,, they chose a home that was nice, of course, but also close to the highest-rated secondary school in the area. I never heard whether it made the experience better, but I’m thinking if it did, that’s all that mattered. But it’s not cheap to locate closer to elite schools. The Globe and Mail newspaper analyzed data from real estate company HouseSigma and Fraser ratings, and found living near the 30 top-rated public schools in the Greater Toronto Area commands a median premium of roughly $60,000 to $70,000, or the equivalent of about 5 to 7 percent for detached homes and 4 to 6 percent for attached homes. Like everything else, if you want better, you’d better pay up. Feel free to check out this story and more on my blog site at: https://slackie14.wixsite.com/buy-sell-and-more.