Children and parents are starting to think about back to school – gathering supplies, picking first-day outfits and resuming early bed times. This annual rite of passage is an important part of life for many people, and schools certainly play a part in real estate decisions. Many buyers have school-age children and desire certain districts when they purchase a home. Even buyers without young children consider a good school system as helpful for when they eventually sell their home.
A recent survey conducted by Realtor.com showed that three out of five homebuyers said school district boundaries would be a factor in choosing a home. What’s more, more than half of that group said they’d be willing to go above budget to have their children go to their school of choice – some would even go up to 20 percent over budget. In addition, homebuyers were also willing to sacrifice amenities, such as pools and bonus rooms, as well as give up living close to shopping, parks and trails in order to live within a specific school district.
While real estate sales professionals are limited in the amount of information they can provide to buyers and sellers when it comes to schools, many real estate sites provide school information through third parties. For example, each listing on my website includes an option to view more school information for the town in which it is located.
By educating themselves about schools and other community factors, home buyers can help ensure they are purchasing a home that best meets their family’s needs.
