It’s that time of year when families consider moving to get their children into a good school district. At realtor.com we recently conducted a back-to-school survey to see how much weight schools have in the home-buying decision. The results show that school-district boundaries do impact the buying decision for more than 60 percent of realtor.com home buyers.
We also found that home buyers are willing to pay more and give up certain features for a home located in their district of choice. These buyers are especially willing to give up access to shopping and nearby parks and trails, among other amenities, to reside within the school-district boundaries of their choice.
A majority of the home buyers surveyed said that school-district boundaries will have an impact on their buying decision:
- 23.59 percent would pay 1-5 percent above budget
- 20.70 percent would pay 6-10 percent above budget
- 8.98 percent would pay 11-20 percent above budget
- 40.33 percent would not go above budget
For home buyers who said that school-district boundaries will have an impact on their decision, the majority rated the boundaries as an “important” consideration:
- 90.53 percent said school-district boundaries are “important” or “somewhat important”
- 2.04 percent were “neutral” about the importance of school-district boundaries
- 7.43 percent said school-district boundaries are “unimportant” or “very unimportant”
A new house can mean more space, great neighborhoods and good schools. Follow these five tips to find your dream home near the right school:
- Know your family’s needs. Is your family growing? Is square footage the most important factor, or a large backyard? Make a list of exactly what you need in your family’s new home.
- Search for homes by the best schools with the realtor.com mobile app. Only realtor.com lets you search for the home you want near the ideal school or school district.
- Review school information in the app. The Schools tab provides detailed information about the grades taught at each school, including the student-teacher ratio and the Great Schools rating.
- Look for parks and play areas in the map view. View your search results on a map and narrow results by homes that have a place for your kids to get the wiggles out. You can also look for other things that matter to you, like how far away it is from a baseball diamond. Draw your own search boundary with your finger, if a specific area really matters to you.
- Make a list of questions for your Realtor. When you’re ready to tour the homes on your short list, be prepared with the questions that will help you make the best investment. Ask about things that matter specifically to you and your family but also what matters for the home’s future value. Your
Realtor will be able to guide you to find the right home, in the right location, near the right school.
Realtor.com / Real Estate News / By Laurie Piper