Real Estate

Schools rating/research while buying a house

  • Last Updated:
  • Nov 17th, 2020 6:50 pm
Newbie
Nov 15, 2018
72 posts
37 upvotes
Toronto

Schools rating/research while buying a house

Hi everyone,
We are planning to buy a freehold townhouse in Vaughan. We are pregnant with our first child due in coming March, so researching about the schools while looking at the listings. I'm looking at the Fraser and EQOA ratings.
For example one of schools rating dropped from 7.5(2016) to 6.5(2019), how bad is a school with 6.5 rating? If we buy the house and the ratings dropped further, will it effect the price of the house?
3 replies
Deal Addict
User avatar
Oct 24, 2016
1525 posts
1657 upvotes
ON
In the area that we were interested in, prices for homes across the road (all else being almost equal) were about 10% cheaper because that area was outside an exceptional school zone.

But please note that my research pertains to one specific area as only that school was on our radar. And if it matters, this information is from 6-7 years back although the same may hold true today as well.
”If you buy things you don’t need, soon you will have to sell things you need.”
Member
Nov 9, 2020
214 posts
150 upvotes
It might as in the % increase won’t be as high as the more desirable areas. But it will still go up. But then again, most areas within GTA are being gentrified so the risk is low.

Can’t speak to school numerical rating and how “bad” a school with a 6.5 is, but remember that neighbourhood demographics and the quality of teachers for that catchment area change over time so it’s like trying to predict the future. In some areas it will be very stable like Toronto Leaside or Forest Hill due to the kind of people that can afford to live there (eg doctors, lawyers, etc.).

I don’t think your house price will drop to the point that you lose your shirt if you are planning to buy and live long term and school ratings drop. Also, keep in mind that even within a “good” school, there will be bad school years and bad teachers. More important that YOU also nurture your kids’ education rather than entrusting a “good” school to autopilot for you.
Member
Jun 6, 2014
317 posts
145 upvotes
Toronto, ON
I think you should be looking at a neighbourhood you want to live in and the local school that you want your kid will attend. Considering that your kid is not born yet, if the kid goes to the local school you're probably not planning on moving for 10+ years. Who knows where home prices will be at that point.

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