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February 2019   Volume 45, Number 2      
 

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‘Schools’ Top List of Most Important Factors for Homebuyers

Homebuyers, even when they do not have children, understand the connection between top-rated schools and high home values. However, for buyers with children, school district is one of the top factors in buying a new home.

A survey of 1,000 people done by Realtor.com found that 73 percent of home buyers believe good school boundaries are an important part of the home search. Only 18 percent of buyers said that school boundaries were unimportant or very unimportant. Just 9 percent were neutral about schools.

For some homebuyers, the opportunity to buy a home in a preferred school district is even worth giving up some desired home features. Homebuyers in sellers’ markets reported that they would be willing to give up a garage (19 percent of homebuyers who prioritize schools) or an updated kitchen (17 percent).

Buyers also said they would give up having a large yard (18 percent), opt for fewer bedrooms (17 percent) or forego having an outdoor living space (16 percent) just to be able to live in a home within their desired school district.

Although school districts often earn the reputation as “good” or “bad,” fair-housing laws require that real estate agents direct their clients to school data or school districts instead of recommending specific schools.

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In this issue:

Can Machine Learning and AI Detect the Next Area to Be Impacted by Gentrification?

Homebuyers Think of Their Pets When It Comes to Real Estate

Millennials and the American Dream of Homeownership

Millennials Prefer Advice of Influencers Over Real Estate Agents

Rising Sea Levels Hurt Coastal Real Estate Prices

‘Schools’ Top List of Most Important Factors for Homebuyers

Study Finds Impact of Starbucks on Nearby Home Prices

Study Reveals Wildfires Don’t Hurt Hot Real Estate Markets

Machine Learning Is Disrupting the Real Estate Market

How Much Do ‘For Sale By Owner’ Homesellers Really Get for Their Properties?

 


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