A family preparing for retirement relocation to Monterey Peninsula was looking for schools for their grandchild. Initially, they thought a public school district would be sufficient.

However, after hearing about Stevenson School, they changed their minds. This school offers programs from preschool to middle school at the Carmel campus and high school courses at the Pebble Beach campus.

Tuition is quite substantial. For day students, the annual tuition is $77,900. If boarding is included, the total cost rises to about $85,900. However, 35 percent of students receive financial aid, totaling $8 million.

The academic performance is noteworthy. The average SAT score is 1280, and the ACT average is 33. There are about 12 students per class, with a student-to-teacher ratio of 8:1. The acceptance rate is 40 percent, which filters applicants significantly.

College admission statistics are also detailed. For recent graduates, 22.9 percent were admitted to top 50 universities, and 12.21 percent to top 25 universities. The percentage of students admitted to Harvard, Yale, Princeton, Stanford, and MIT is recorded at 3.05 percent.

The small class size is another point worth noting. With 517 students and a student-to-teacher ratio of 8, it suggests that teachers can closely monitor each student's academic progress.

The issue lies in the housing costs near the school. The median home price in the Pebble Beach area is currently $4 million, a 44.6 percent increase from the previous year. As of April, it was recorded at $3,848,000.

The Carmel area is slightly lower. According to Zillow, the average home value in Carmel-by-the-Sea is $2,280,971. Redfin reported the median home price over the last three months at $3.2 million, a 13.1 percent increase from the same period last year.

Ultimately, this family decided to rent in Carmel. Combining tuition and home purchase costs would double their budget. Starting with renting and monitoring school adaptation before deciding on a purchase seems like a realistic choice.

Monterey Peninsula also has significant insurance costs separate from county property tax regulations. As coastal fire insurance requirements are becoming stricter, it is advisable to obtain quotes from insurance companies in advance.

Among the cases I reviewed, there are not only families relocating for retirement. There are also grandparents bringing their grandchildren and young couples moving for remote work. The common factor is that everyone is trying to find a balance between tuition and housing budgets.

When starting with a rental, it is better to set the lease term for one year rather than a shorter period. This can reduce the burden of moving again in the middle of the semester.

If considering a purchase, it is wise to check the property tax structure based on California's purchase price criteria, along with the unique fire insurance renewal conditions in the area before signing a contract.

Families coming directly from Korea often find the American real estate transaction process unfamiliar. Knowing that there is no jeonse system and that both sales and rentals go through escrow companies can make the process smoother.

If the investment is for a coastal area like Monterey Peninsula, where supply is limited, demand tends to be steady in the long term. However, the potential for significant price fluctuations should also be considered as a risk.

In summary, tuition and college admission statistics can be verified through Stevenson School's data, and housing costs vary significantly depending on whether you choose Pebble Beach or Carmel. Establishing a budget line that considers both is the next step.

Ultimately, choosing a school comes first, and housing is next. I have seen cases where prioritizing finding a home first led to fewer school options later.

School district boundaries can change frequently, so I recommend checking the assigned school for the address before signing a contract. This article is not investment or legal advice, and it is advisable to consult with professionals before making any agreements.