I always hear about buying in Irvine because of the quality of the schools. It seems a large factor for buying here.
I assume this is for just two reasons:
1) So my kids would go to good schools
2) So I have good resale value on my home
Question for #1
I was thinking...if I bought into some other city outside of Irvine where the schools are not as good, the money I would save in not paying an HOA, Association Fee(s), lower taxes and lower home price, (and not paying the "better schools" premium I would pay in Irvine) would put a substantial dent in paying for a private school tuition. In other words, my savings by living elsewhere would pay for a private school that was as good, or better, than a public school in Irvine?
It also seems widely accepted that public schools are not as good as private schools, and that most public schools are pretty bad or at least sub-standard (based on the state of education in the U.S. - Irvine public schools as an exception to that). But it seems like a lot of people are paying a lot of money to buy inside Irvine to have access to the "best" of the "worst."
Question for #2
Isn't this canceled out by the "all things being equal" concept? Houses in Irvine are more expensive partly because of the schools, so when I sell I am just passing that premium I paid for on to the new buyer, but if I buy somewhere with not so good schools I am enjoying a discount because of that fact, which I just then pass on as a discount to the new buyer.
I assume this is for just two reasons:
1) So my kids would go to good schools
2) So I have good resale value on my home
Question for #1
I was thinking...if I bought into some other city outside of Irvine where the schools are not as good, the money I would save in not paying an HOA, Association Fee(s), lower taxes and lower home price, (and not paying the "better schools" premium I would pay in Irvine) would put a substantial dent in paying for a private school tuition. In other words, my savings by living elsewhere would pay for a private school that was as good, or better, than a public school in Irvine?
It also seems widely accepted that public schools are not as good as private schools, and that most public schools are pretty bad or at least sub-standard (based on the state of education in the U.S. - Irvine public schools as an exception to that). But it seems like a lot of people are paying a lot of money to buy inside Irvine to have access to the "best" of the "worst."
Question for #2
Isn't this canceled out by the "all things being equal" concept? Houses in Irvine are more expensive partly because of the schools, so when I sell I am just passing that premium I paid for on to the new buyer, but if I buy somewhere with not so good schools I am enjoying a discount because of that fact, which I just then pass on as a discount to the new buyer.
