Real Estate with Gloria Benaroch

Homebuyers Willing to Sacrifice 'Must-Haves' in Favor of Good School Districts

It should come as no surprise that buying a home in a good school district is important to homebuyers. According to a report from Realtor.com, 86% of 18-34 year-olds and 84% of those aged 35-54 indicated that their home search areas were defined by school district boundaries.

What is surprising, however, is that 78% of recent homebuyers sacrificed features from their "must-have" lists in order to find homes within their dream school districts.

The top feature sacrificed was a garage at 19%, followed closely by a large backyard, an updated kitchen, the desired number of bedrooms, and an outdoor living area. The full results are shown in the graph below.

Buyers are attracted to schools with high test scores, accelerated academic programs, art and music programs, diversity, and before and after-school programs.

With a limited number of homes available to buy in today's real estate market, competition is fierce for homes in good school districts. Danielle Hale, Chief Economist for Realtor.com, explained further,

"Most buyers understand that they may not be able to find a home that covers every single item on their wish list, but our survey shows that school districts are an area where many buyers aren't willing to compromise.

For many buyers and not just buyers with children, 'location, location, location,' means 'schools, schools, schools.'" (emphasis added)

Bottom Line

For buyers across the country, the quality of their children's (or future children's) education ranks highest on their must-have lists. Before you start the search for your next home, let's get together to discuss the market conditions in our area.

Gloria Benaroch

Broker Associate

CRS, e-Pro, Real Estate Instructor

Heritage House Sotheby's Int'l Realty

Rumson NJ

732-245-4031

Email Me

Visit My Website

Sotheby's International Realty® and the Sotheby's International Realty Logo are service marks licensed to Sotheby's International Realty Affiliates LLC and used with permission. Heritage House Sotheby's International Realty fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Each office is independently owned and operated. (o) 732-842-3434

Thinking of buying?

Download my free eGuide covering the things you should consider when buying a home.

Download Now

Check Out More Articles
Just click a category below!

Gloria Benaroch and Keeping Current Matters, Inc. do not guarantee or warrant the accuracy or completeness of the information or opinions contained herein, and will not be liable for any loss or damage caused by your reliance heron. Nothing herein should be construed as investment advice. Consult a professional before making any investment decision.