Your child�s education is always going to be one of the most important parts of their development, which is why a lot of parents look extensively over school districts when they are buying homes.
We�re all know that, for families, school districts can be very important when it comes to buying a house. �Where a home is located is going to decide where their child goes to school–it could mean the difference between a prestigious institution and a dangerous learning facility. �So, this is a huge factor, and that�s not a secret. �But how much does this really affect the price of the house? �You�d be surprised; read on to see just how impactful school districts are.
School Districts and the Deeply Concerned Parents
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Your child�s education is always going to be one of the most important parts of their development, which is why a lot of parents look extensively over school districts when they are buying homes. �According to a survey, 91% of US citizens buying homes said they took school districts very seriously. �And aside from American citizens, education is also a huge factor when families from other countries are involved. �These hard-working people are looking for the best schools for their children in this country; it is deeply important to them that their child is in a great school district.
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The Sacrifices
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Here comes the shocking part; some realtor.com surveys showed that one in five buyers were willing to give up an entire bedroom just to live in the right school district. �A full third would give up square footage for the chance at a better school. �One in five said they�d pay up to 10% over their original budget to live in the right area, and one in ten pushed that number up to 20% over budget. �Imagine the kind of difference this makes when the homes in the area, as is a common occurrence in Maryland, sell for an upwards of half a million dollars.
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Important Factors to Consider
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Before we jump the gun and attribute all high home prices to good school districts, let�s think objectively for a moment. �Home buyers who are willing to spend more (and in turn, those who have more to spend) are going to live in better school districts. �This means that home prices are going to rise, regardless. �And what makes a �good school�? �Test scores? �It�s entirely possible that, when an area is more affluent, the school gets the funding to provide a much better education. �But whatever the reason, it�s clear that school district plays a huge part in housing prices.
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Tags: back to school, school district