Currently scoping out neighborhoods and what housing is available in our price range for our first home purchase next year. We had settled on trying to get into a townhome-style condo to start, but then the cutest little house that is almost in our theoretical budget came on the market in a neighborhood we like. Now I feel torn between two different options and need the hive mind's input! (DH is sick and tired of me bugging him about this, especially since the school question is at minimum 7 years away)
Imagine you have these two properties you could buy. Which would you say is the better purchase long-term?
Option A: A 3/1.5 single-family home zoned to "meh" schools - 5 out of 10 on GreatSchools. ~1200 square feet with a yard and a one-car garage. Walking distance to a shopping center.
Option B: A 2/1.5 condo zoned to "great" schools - 8 out of 10 on GreatSchools. ~1200 square feet with a patio and a carport for 2 cars. Walking distance to a park, library, community pool, and shopping center.
Assume commutes, cosmetic updates, general neighborhood "feel", and the monthly payments (including HOA and/or property taxes) are about the same, and that you have the finances to cover the higher maintenance costs of the SFH. Which ends up being more important to you - easy access to good* schools and more amenities, or the extra space and freedom that comes with a single-family home?
These options are based on actual listings in my area, but this discussion is hypothetical right now, we don't have a downpayment together yet. Just wanted to throw it out there and see what everyone thinks!
*and yes, I know the Great Schools metrics are based on questionable standardized testing practices and a kid's educational success is more about the home environment than a "great" vs. a "meh" school per se, but I know not all homebuyers feel that way. Interested to see what everyone thinks!