A colleague of mine, John Pietrowski (who runs Playwrights Theatre of New Jersey and is on our project team for the New Jersey Arts Education Census Project, which is really the next generation of work he pioneered in the state) has often commented in our meetings about the connection between real estate values and quality arts education programs in schools. His premise was, and remains, that realtors are naturally inclined to support arts education because they understand what this does for the quality of a school and what quality schools do for the value of homes. They also speak everyday with people who are making choices about where they will live and what issues are important to them in making this important life choice for their family. Apparently, music and arts education comes up frequently.
This whole connection idea made logical sense to me… but I had never heard it come from anyone in the real estate business… until now.
John… you are right!
The following excerpt is from the Ukiah area of California
REAL ESTATE: The school-real estate values connection By Bill Barksdale Its an interesting, yet logical, phenomenon that a strong local school system increases and supports stronger real estate values. Many homebuyers ask their agent about the quality of the local schools. Even buyers who dont have school-age children want to know about local schools because it may indicate the availability of a competent, disciplined work force and can indicate lower crime statistics if young people are treated with respect by investment in their education. Arts education, often marginalized and the first to have funds cut, not only provides a productive way for young people to spend their time - but more importantly, it teaches critical thinking skills that are essential in business. The creative process helps people to think outside of the box. This is one the most important skills of any good entrepreneur in creating new businesses and finding solutions to problems. The better the educational environment of a community, the more likely an employer will choose to locate their business in that community with well paying jobs. Those jobs create opportunity for employees to afford to purchase a home, or improve the home they already own. In addition, people who receive a good education locally are more likely to remain in the community and improve it. As a homeowner, they acquire one of the most important assets possible toward financial security.Looks like another valuable argument to add to the quiver! Complete article: The Willits News - Business