To the Editor: As a mother of three in 3rd, 8th, and 11th grades and a Realtor by profession for the past 17 years, I wanted to share some feedback from one of my clients on their decision to buy a home in Nutley.
Most recently, a young couple from out of state, ready to start their family and looking for a home in the mid $500,000 range, was open to buying in Nutley, Montclair, or the Verona area close enough to NYC. Since I am most familiar with Nutley, it's my first instinct to introduce the town I live in and convince that young couple what a great town it is and how great the school system is. My clients were excited to get started and see some homes.
First up, a lovely colonial in the Yantacaw section of town. As we pass my daughter's school and I point out the wonderful close proximity of the school to the home we are about to see, I am questioned about the trailers that sit adjacent to the school. Sensing my embarrassment, that conversation ends on a less positive note and somewhat disappoints my clients as they see the future of their child's education uncertain. Those clients wound up buying a home in Verona.
The house I showed them in Nutley is still on the market and now at a substantial price reduction. And those of you in the Spring Garden and Radcliffe sections will experience an influx of buyers in your neighborhood that will soon overcrowd your school as well, turning good buyers away to other towns.
So let's do the math. Pass the referendum and pay an additional $367 in taxes a year or lose about $20,000 in the value of your home. Not selling anytime soon? What about taking an equity loan to renovate that kitchen or build the addition you always wanted. A decreased value means less equity.
The reputation of a good school system has always proven to bring value. It is a win win for any resident.