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Homebuyers Willing to Pay More For Good Schools


According to a new study by realtor.com®, over 44 percent those who plan to purchase a home in the two years siad they would being willing to pay over their budget by up to 10 percent for a home in their preferred school dostrict.

3/5ths of those surveyed said that school district boundaries have a great impact on their home purchase decision. Almost 9 percent of homebuyers indicated that they would be willing to pay 11 to 20 percent over their budget to get a home in a desirable district. Roughly 17 percent of buyers said they would like to live within a mile of a school so their children could walk there.

In addition, some future homebuyers said they would be willing to give up certain amenities for a good school. Roughly 62 percent said they would give up a pool or spa, 50 percent would give up accessibility to shopping, and almost 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.

For questions frequently asked by homebuyers, please visit: http://www.californiarealestatedirect.com/Buyer-FAQ

For more on the survey, please go to: http://www.reuters.com/article/2013/07/29/realtorcom-survey-idUSnPNLA542...

Tags:- real estate news   housing   Homebuyers   future homebuyers   good school