In both China and Australia, children`s education is a matter of greatest concern to parents. Domestic parents go to good schools for their children and buy high-priced school rooms. The same is true for Australian parents. The only difference is that Australian parents can choose not only to buy a house in a school district, but also to rent a house. Living in a school district is as qualified as buying a house in a school district.
However, what we have to discuss today is that when renting a house and buying a house can be admitted to a public school, which is more cost-effective? What is the choice for most Australian parents?
Rental and purchase price
According to rental information on the Australian real estate website realestate.com.au, the top 10 public schools in Victoria are located in areas other than elite schools, where rents range from 430 to 750 Australian dollars a week.
The three-bedroom rent in Melbourne`s, Balwyn High School school district in Balwyn North is 520 Australian dollars a week, and the average rental cost for six years from junior high school to high school is about one hundred and sixty one thousand nine hundred and ninety nine Australian dollars. However, the median price for buying a school district room is one million six hundred and forty eight thousand Australian dollars.
McKinnon Secondary College has achieved impressive results in the VCE exam for several years. As a result, the school attracted a large number of parents to move to its school district. The number of students has grown from 1600 in 2012 to nearly 2100 today.
Here, the average rent for a three-bedroom is 570,700 Australian dollars a week, six-year average rent is about one hundred and seventy eight thousand Australian dollars, and for buying a house, it costs about 1.63 million Australian dollars.
The following is a comparison of rental and purchase prices in Melbourne`s famous public school districts, published by realestate.com.au:
As you can see from the table, if you choose to rent a house, it costs 16- two hundred and forty thousand Australian dollars over the next few years of junior high school, and millions of Australian dollars are required to buy a house. This is the most appropriate and affordable way for families who are struggling to pay for the higher prices in the school district and want to enroll in well-known public schools.
The choice of many parents: renting a house
It is understood that many Australian parents are willing to give up their homes to rent in the public school district in order to get their children to the best public schools in Melbourne.
"you have no idea how many families are willing to rent," said Greg Bader, chief executive of Rent.com.au, an Australian rental network. Melbourne`s parents pay an average of 14% more rent to rent school districts.
The Kay family have four children: 12-year-old twins Sam and Will,10, James, and 7-year-old Sophie.. To get the kids into the ideal public school-McKinnon Secondary College. They rented out their house and moved to a nearby school district.
"the outstanding performance of McKinnon has led us to believe that children can get a very good education here."
Jenny Caughey of Gary Peer, a property management firm, says many parents in Melbourne are willing to pay higher rents in order to rent a house in the McKinnon school district. And every December and January, the school district housing market competition is the most fierce, can be said to be difficult to obtain. In order to rent a house in the school district, some people choose a two-bedroom house at the expense of living space. Others are willing to pay longer rent at a time in order to succeed in renting a house.
Mother Ayesha Jones chose to move her family to live near the school in order for her son, Seth, to enroll in the seventh grade of Frankston High School. In order to rent a house in the school district, she paid six months` rent in advance.
"my two kids are very fond of basketball, Frankston High sports are very famous."
Frankston High headmaster John Albiston says too many parents rent out their homes and move to the school district. And some parents choose schools from the birth of their children, even selling their homes in order to move into the school district.
"We have a lot of parents who choose to rent in the school district because they realize it`s more cost-effective."
epilogue
In Australia, where housing prices have been condescending, the current school district housing prices are even more eye-popping! Not long ago, Australian media revealed that Melbourne`s school district was prohibitively expensive, with some top public schools running more than 400,000 more than nearby non-schooled ones.
In this case, renting is the most cost-effective option for most families. We don`t have to worry about the cost of district housing, and children still have access to the ideal public school for quality education.
Of course, for strong parents, the purchase of school district housing is also a very good investment, although the price of school district housing is high, but its future income will also be very considerable. Buying a house allows a child to qualify for a degree and is also a long-term financial investment. Whether to buy a house or rent a house, parents or depending on the financial situation of each family.
Parents, do you agree with the editor? Which one would you prefer to buy or rent?
