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Survey: Buyers Will Pay More for Good Schools

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Daily Real Estate News | Tuesday, July 30, 2013

More than 44 percent of home buyers who plan to buy a home within the next two years said they would be willing to go over their budget by up to 10 percent in order to buy in their preferred school boundaries, according to a new survey by realtor.com®. 

Three out of five home buyers surveyed said that school boundaries greatly impact their home purchasing decision. Nearly 9 percent of buyers indicated that they’d be willing to pay 11 to 20 percent above their budget to get a home in a desirable school district, the survey found. About 17 percent of buyers said they want to live within a mile of a school so their children can walk there.

Some home buyers said they’d even be willing to trade certain home amenities for good schools: About 62 percent said they’d give up a pool or spa, 50 percent would give up accessibility to shopping, and nearly 44 percent would pass on a bonus room.

“Our survey demonstrates the large impact school boundaries have on those looking to purchase a home,” says Barbara O’Connor, chief marketing officer at Move Inc.

The survey comes after realtor.com® launched a new mobile school search tool in April, allowing buyers to search for listings in specific school and district boundaries.

Source: realtor.com®

The Cascade Team Real Estate has made it easier than ever to learn more about neighborhoods before you buy…including the schools that are located in your area of interest.

Explore community and school information throughout the County. The Cascade Team community and school reports are your local source for local demographic and school district information. Compare local demographics, neighbohood amenities and local schools.

Our Cascade Team Real Estate Community & School Report Tool:

  • Compare two zip codes side by side
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  • See local shopping, restaurants, services, recreation and leisure, along with local grocery stores.
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  • See information about local schools and compare them side by side.
  • Select individual schools to review and see their scores, teacher ratios and school profile

To view all this valuable information, just click on either the Community Zip Search or School Zip Search images below.

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