Posted in Buying, Community, Family, Information, Kids, Property Investment, Real Estate, Renting, Selling

School’s Back!

Households everywhere are abuzz with back to school preparations.  Children are groaning while mums and dads fire questions: “Where’s your drink bottle?  When did your lunch box break?  You lost another school hat?”

But it’s not just drink bottles, lunch boxes and school bags that parents have to worry about at this time of year.  The hot topic amongst the parent community now is:  Which is the best school.  And how do we get in?

If you have primary school aged children and/or own a property in a school catchment zone, then you may find these tips handy:

  1. In 2017 the REIV reported that the median house price in highly sought after public school catchments, were up to half a million more expensive than homes that border the zone.
  2. Great news for those who currently own an investment or live in one of these school catchment zones but no longer need to as their children are no longer at the school. Maybe it’s time to sell up and take advantage of the area demand?
  3. Families looking to lease a property in the zone to secure enrolment, proceed with caution! Check with the school first to see if they impose any conditions on leasing.  Some schools require evidence of an ongoing lease; some have a minimum time that families need to be leasing within the zone; some don’t accept private leases; some schools do not recognise a leased property as primary residence if the parents own a property outside of the zone!
  4. Application forms for following year enrolments are distributed in April and due for return in May. These forms allow you to nominate three school preferences.  Announcements are made in August as to which school your child got in to.  Keep these dates in mind if you own an investment property in the school zone, when coordinating new leases.
  5. Whilst living in/owning a property within a school zone is the best guarantee of school entry, a school zone can change, so always check with the school first before committing to a property purchase.

Wishing all the families out there, a happy and very successful 2018 school year.  Remember, that before you know it, in the blink of an eye, it will all be over.  So try and enjoy these times while you can.