What do we call it when an individual buys a property because they expect a school to be built nearby?

The term that best describes the scenario where an individual purchases property based on the expectation that a school will be built nearby is anticipation. This concept refers to the expectation of future events influencing present decisions, particularly in real estate. Buyers often try to predict how developments, such as schools or parks, will enhance property value, which can lead them to act on that belief.

Anticipation in real estate acknowledges that individuals make decisions based on expected future benefits, showcasing how future growth or developments can influence current market behavior. This is particularly relevant in real estate markets, where proximity to educational institutions is often a significant consideration for buyers.

While the other options also involve aspects of prediction or expectation, they do not encompass the specific element of making real estate decisions based on anticipated future developments. Speculation, for instance, often carries a connotation of riskier investments without reliance on expected community enhancements, while forecasting typically implies statistical methods to predict future trends rather than a subjective, personal decision-making process based on individual expectations.