But have you considered that your kids’ school could also deliver a financial return by boosting your home value?
School catchment areas are geographic boundaries that help state schools manage the number of enrolments they receive each year. While schools might accept out-of-catchment enrolment applications, placement is not guaranteed.
So for popular schools, some parents are willing to move – either through buying or renting – into the catchment to guarantee their kids’ placement.
The laws of supply and demand then kick into action and well-located homes in popular catchment areas enjoy the gains.
Several studies have looked at house prices in school catchment areas, with a Domain analysis last year reporting impressive price growth in Brisbane school zones, including a whopping 40 per cent increase in the Logan Reserve State School catchment zone.
Think that sounds too good to be true? Go straight to the head of the class.
The result for Logan Reserve was called into question with one local agent explaining the semi-rural area’s subdivision potential had a greater impact on capital growth than the school.
Nevertheless the general consensus seems to be that homes in popular state school catchment zones can sell for between 10 to 15 per cent more than those in surrounding areas.
Savvy investors will even research school catchments to select their investment properties.
So this is good news if you’re located in the catchment of your dream school, and if not, it might be time to do your homework.