School Districts Rate Highly in Home Buying Survey
DiNoto Realty Group
909-921-25444 | http://www.DiNotoRealtyGroup.com
School Districts
Rate Highly in Home Buying Survey
Rancho Cucamonga residents don’t have to have children at home to know when we’ve gone
through the familiar back-to-school rituals. Just turn on a radio or TV, step
into a retail store, or drive past a school and the calls to educational muster
are evident. At the same time, it’s hard not to be reminded how significant
education is when it comes to home buying—how likely it is for schools to be on
the forefront of many buyers’ minds.
Most
people know intuitively that top-notch schools carry significant weight in the
searching and home buying processes—but the result of a survey done by realtor.com has spelled it out in
black-and-white. Their research reveals that more than 60% of
buyers consider school district boundaries during their home buying process.
It’s a surprisingly weighty number.
The depth
of interest that buyers registered was also illuminating. The same survey
uncovered the fact that prospective home buyers are willing to spend more—and
give up other features—in exchange for a house located in a preferred school
district. For example, many buyers said that they are ready to ignore access to
shopping malls and parks to be in a district where their preferred school is
located.
Prospective
buyers are likely to also factor in the impact the same phenomenon could have
on a property’s resale value down the line. That could be part of the reason
why more than 23% of respondents said that are willing to pay 1-5% over their
budget to be in a preferred school district boundary. Another 20% said they
would pay 6-10 % above budget, while 9% would pay as much as 11-20% more!
When
queried about which factors weigh most heavily on their home buying
preferences, over 90% said that school district boundaries are either
“important” or “somewhat important.” Only 7.4% said that school districts are
“unimportant” or “very unimportant,” while 2% classified them as “neutral.”
This
level of unanimity should be of interest to anyone about to embark on their
own localhome buying expedition—whether or not they
have children of their own. It’s hard to ignore the proposition that when you
go to resell a house in the future, its school district may carry the same
importance to home buyers down the line. If today’s buyers give such importance
to school district boundaries, it may not pay (to borrow Wall Street’s famous
phrase) to “fight the tape.” In any case, it always pays to ask questions, do
some neighborhood research—and to call the DiNoto Realty Group when you’re looking to buy or sell
in Rancho Cucamonga.
We look forward to connecting with you soon!
DiNoto Realty Group
909-921-2544
www.DiNotoRealtyGroup
Cal BRE# 01804308
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