Would you Buy an IP opposite a school?

If there is a proposal to build a government high school (Years 10-12), would you buy an IP that was opposite the parkland where the school was going to be built? The IP is a smallish 4bed 2bthroom.

Thanks

ET
 
Et, no I wouldnt. To me it would be like buying on a main road, and priced accordingly. - Cheaper for a reason.

Would you?
 
I am with Rixter. You would want it at a cheap price because one day someone will want it at a cheap price because it is opposite a school, with all the noise and traffic that can bring.

Wylie
 
Et,

No I wouldn't either - too much traffic & noise when completed and operating as a school. Too much noise when under construction.

I don't buy opposite public toilets, shopping centres, schools, unit complexes, etc etc.

Cheers,
Aimjoy
 
And the announcements over the PA (always repeated) "Could Mrs Smith please come to the office...... Could Mrs Smith please come to the office."

Wylie
 
....not to mention the lollie wrappers and soft drink cans and other stuff that would be thrown over the fence.:(
 
i live in a place just up the road from a primary school. good thing is there's speed bumps all down the street, so you don't get people speeding down your street :) and not too noisy cos we're just up from it and it's only a small one. but yeah, i only bought it cos it was all i could afford with my FHOG at the time. moving out this weekend into place we've been reno-ing. already have tenant lined up. tenant works, so any noise from school not a problem. maybe it would depend on the area and type of school? i mean, maybe a mum who was paying 10K a year to send her kid to a fancy primary school would want to be able to see her kid walk down the street and safely into the school, or hear the bell in the afternoon and watch her kid walk up the street? it's pretty cool for a little tacker to be able to walk to school on his/her own :) no ferrying about in cars, or worrying about big roads to cross or buses, etc.

but yeah, if i had more money at the time, i wouldn't have bought it. (still served me well though $120K purchase + $15K reno = $200K value, is just fine by me)
 
As luce.rocks says while I would not want to live that close, we did try to buy one right smack bang opposite the school our kids went to, not because they went there, but because the house was pretty special.

We didn't get it but the family who did buy it did spent money renovating the 1930's spanish mission house on a big block and sold it for over $2M recently. The house on the other corner is worth mid $1M.

So, near a school doesn't always mean it is worth less. These particular houses would not be worth too much more one street over because this particular school is in back streets anyway, but the noise would still be a factor and for us putting in a tender for this particular house, the school was definitely a downside, but we would have put up with it just to live in this beautiful house.

Wylie
 
My house is down the road from a primary school, quite a large one, and I don't think its affected the land value at all. I don't have problems with noise or rubbish or kids, but that's probably because most of the kids don't need to walk past my house to get there.

If you are catering to the family market, being near a school can be a massive drawcard.
 
My house is down the road from a primary school, quite a large one, and I don't think its affected the land value at all.

If you are catering to the family market, being near a school can be a massive drawcard.

The operative words being 'down the road'!

I agree being near a school but not across the road for the reasons previously mentioned in this thread.
 
would you buy an IP that was opposite the parkland where the school was going to be built?

ET

Definitely not.

Get rid of the word "opposite" and the answer would change to an instant yes.

Govt tenant and large land content.....now those fundamentals are good.
 
If the new school Yr 10 to 12 is going to be a selective school or school of excellance they being nearby may guarantee entry and that would be a plus.

Peter 14.7
 
Thanks for the replies.

I agree with everyone that we shouldn't buy opposite a school (just wanted to make sure).

Cheers

ET
 
No, wouldn't buy opposite a school.

Apart from all the other reasons already outlined I feel you could also suffer vandalism particularly seeing its older kids. You know the thing, sitting on the fence, horse playing etc.

Having said that I have a townhouse which is right next to the oval of a public school. Basically it means that this property has a great bushy outlook with the school buildings in the distance. The only downside is at 'playtimes' during the day when the kids can be a bit noisy any other time its real peacefull.

Cheers
 
I own one that was right opposite a school, then the govt stepped in and closed the school, sold the land to a developer who built McMansions on it, my house went right up in value :D

I agree the noise from the bells and PA was incredible and very annoying as well as the parents cars constantly coming and going but it was always very easy to let to families with children.

Chris
 
Hi all,

Devils advocate time.

Why not???

If the property is cheaper than surrounding areas, does this mean that it will grow at a lower rate??? (ie if the property was $250K because it was opposite a school, compared to $300K down the road, if it goes to $500K in 10 years, has it performed any worse than the one down the road that has gone to $600K in the same period???) Perhaps the yield on the one across the road would be higher than the one down the road??

Nothing is as black and white as it first seems. Perhaps the sellers of the property are so worried about the new school that the purchase price could be much cheaper than the reality would suggest.

bye
 
How far would you be from the school buildings. Where is the bus stop /pickup point for students.
What area would the kids be drawn from? ie would you send your kids to that school.
I have a PPR next to a school. There are kids hanging around before and after school at times.
Any problems have faded from my memory
On on the weekends and late afternoons it s great to use the oval.
A great location for me.

Really it depends on the likely pathways students use and how close they woulf be to your property
 
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