Mad or sensible to buy a house we could only just afford v near outstanding primary?

[thiskittenbarks]

Baby is nearly 1 so school is a long way off, but we want to buy here (relocated from north to south last year) now and won't want to move again before he starts school.
There is a house we could juuuust about afford (if we scrape everything together) right next to an ofsted outstanding state primary. The house needs work which we could afford to do eventually, but we could probably only afford to make it liveable before moving in.
Alternatively we have seen a few nice houses near "good" (ofsted) schools which are more comfortably within budget.
The house in question is much bigger, and has more potential than the others too, and it has other positives such as being v close to DP's office and also baby's nursery. So it wouldn't be a total loss, but the main reason I want to stretch to buy it is because of the school. Is this crazy?
DP seems to think that everything will have changed by the time baby is at school (he even said today that state schools might not even be around by then...) so there is no point buying a house based on it. I don't think this is likely, but I suppose the school could really go downhill?

he even said today that state schools might not even be around by then Well this is bonkers for a start.

Have you visited the schools or are you just going by Ofsted?

Just going by ofsted and what we have heard from people. We are fairly new to the area so aren't particularly knowledgeable about the schools - but it's a nice area.

And yes - he is. We will all be teleporting to work too so being close to his office makes no difference either......

Go and visit the schools. They won't think it's strange. Make a checklist of what you want in a school (green outdoor space, 1 form entry, affordable uniform, whatever) and compare. Make a note of staff turnover, average age of senior management (will they retire?) etc.

I'm generally all for stretching yourself as much as you can for a house you love, but schools shouldn't be much of a factor as they do change.

And look at the failing ones too. Why did they fail? What are their plans? A school near me went from failing to outstanding within a few years. Others have gone the opposite way.

OK, a few things jump out at me initially.

1. It's not just up to you to decide whether you can afford a house nowadays - not if a mortgage comes into the equation. If you are having to scrape funds together to pay the mortgage, then it's likely you wouldn't pass affordability checks for that level of lending in the first place. Things have tightened up massively in this respect in recent years.

1. Ofsted isn't the whole story. For example, DS2 went to a primary school that was rated "good" when he started and "outstanding" by the time he left. Within 3 years it was in special measures and several friends had their DCs on waiting lists to transfer to other schools. It's only just starting to pick up again now, and DS2 is in Year 12!

So, no, in short - I wouldn't financially sell my soul to the devil for the sake of an Ofsted rating. Not when other primaries in the area are also perfectly good schools. It may well be that by the time you apply for a primary place, somewhere else is considered the "best" school in any case.

Oh that sounds like we have our work cut out, this whole parenting thing makes everything complicated doesn't it... I was just looking for houses with original fireplaces hahahaha.

If and only if you are seriously considering this, make as sure as you can that yous get a place in the school. Living literally next door is no good sometimes if Eg all the places are allocated based on faith and you are of no or the wrong faith.

Ofsted outstanding ratings can be quite old just to warn you as those schools are exempt from further inspection.

Routine inspection that is

I'm also slightly confused at the idea of parents of a baby being shown round a selection of state schools and being given the chance to ask questions about their staff turnover, age of management etc., before deciding where to buy a house.

Do people actually do that? Who carries out these tours? Aren't they disruptive to the other school children? A child of school, or almost school, age yes - but a not yet 1 year old?

I'm not there yet, but I've heard others choose Good over Outstanding (because less focus on ticking Ofsted's boxes, apparently). Basically, go visit. You may not like the school at all. And it could go tits up in three years (though we also bought very early with the long-term in mind, so I understand that approach).

Even without the school situation I'd probably go for the bigger house. You can add value if it's got potential to extend, its near nursery etc as you said, and if it's near the outstanding school it would probably be a safe bet in terms of value/resalesbility if you needed it. And it sounds like you like it more than the others. If you can afford it I'd go for it.

The only thing I'd bear in mind is if you end up not liking the outstanding school (can't rely on ofsted alone), would you still be in catchment/have a chance to get in elsewhere? Personally I wouldn't let that stop me if the house ticks all the other boxes as there are usually ways round things, and I'm sure the outstanding school will be great, but just worth bearing in mind.

Yes you can go and visit the school! They're all having their open days at the moment (certainly are in London) so this month is a perfect time.

Re scraping - I mean for the deposit really. We have savings for our wedding that we could use for it (weeps internally), plus the top amount we have been approved for mortgage wise, but the other houses we could afford more comfortably and have nice wedding (although really that doesn't seem so important anymore).
It's not a religious school (another reason I like it), so being close should be enough I think?
That was my fear that it could go downhill.

santas in our case we went along to open days. No one asked how old our DD was (which is just as well, I was barely pregnant at that point). Then reading all Ofsted reports, asking local parents, reading whatever was available online, popping in to school fairs etc. Which is hugely over the top and not for everyone, but we wanted to buy and I was keen to get to know the local schools before we did.

Could you still afford it if you had a second child and you went on mat leave again?

Could you still afford it if mortgage interest rates rise?

If not, I would err on the side of caution - you have plenty of time to wait for a cheaper house you also like in the same catchment to come up for sale!

Do people actually do that? Who carries out these tours? Aren't they disruptive to the other school children? A child of school, or almost school, age yes - but a not yet 1 year old

I did. I visited 3 schools, and they were all happy to show me round (one was at an open day).

I didn't ask all the questions I'd have liked to as I didn't know what to consider. waiting a couple of years would have been too late as we were moving house and I wanted a general idea of what was in the area.

It was wraparound care that swung it for me in the end, particularly as my child was able to go to that from 1.5 (as a nursery) and then stay on there at breakfast and after school club from 3.5. Wouldn't have know about that if I hadn't have looked.

The age of the child is irrelevant as you don't take them with you.

Even if the mortgage company says you can afford it, bear in mind that interest rates are about to go up, and will rise again over the next few years.
Be sure you are not one of those who will be caught in the repayments trap.

So organised essentialhummus - was the school still good when your little one went? Or has the time not come yet?
Bialystock that's what I think re going for the best we can afford but DP is more of a slow and steady, careful kind of guy. I think he thinks I am just gradually upping the budget (which is exactly what I am doing unfortunately )

was the school still good when your little one went? Or has the time not come yet?

She's about three weeks old

It's been good for a long time, and we should be in catchment for a second good school - hopefully between them we'll be fine. It is a risk though.

Fetchez and glad yes interest rate rises are a bit of a worry. A small rise would probably be fine. But I think that is part of the reason DP is cautious.
Maybe I'll but have to hope they reduce the asking price...

If it's a village school, check how large the intake is. There's a popular village school near us with an annual intake of only 15 for reception. Last year so many of the places went to younger siblings already attending the school (even though many of them lived several miles away in the nearest town) that several reception aged children from the village didn't even get offered a place.

People look at schools all the time, because they have moved house, because their child is approaching school age, because they've fallen out with the school their child already attends, and good Heads show them round and answer their questions.
Schools can change dramatically as other posters have said. In this town the favoured school got a new Head and for the first time in about 30 years parents are flocking to the other school instead.

Also, have a think about secondary school (I know, I know) but it is easier to supplement any deficiencies in a primary school than it is to supplement a poor secondary, so if the catchment secondary is fine then ok, but if it isn't I would find a house near a good secondary over a good primary.

Don’t forget that education is more than just school. If you pump everything into the house will you have funds to allow for experiences for you as a family?

Having lived through the 1990s and 15% interest rates I personally would want to be able to afford more than a "small" increase in the currently very low rate.