In a July 29th article by Inman News, an online survey conducted between July 18 and 22 confirmed that three out of 5 potential home buyers do consider the reputations of surrounding schools when purchasing a new home.
The survey pulled some important numbers regarding the relationship between school attendance boundaries and home purchasing, including:
- 23.6 percent would pay 1 to 5 percent above budget.
- 20.7 percent would pay 6 to 10 percent above budget.
- 9 percent would pay 11 to 20 percent above budget.
- 40.3 percent would not go above budget.
The survey also confirmed other major factors the majority of homebuyers consider when purchasing:
- 62.4 percent would do without a pool or spa.
- 50.6 percent would give up accessibility to shopping.
- 44 percent would pass on a bonus room.
- 42 percent would offer up nearby parks and trails.
Barbara O’Connor, chief marketing officer at Move Inc., stated that, “This data shows how compelling this new feature is to consumers and the impact it has on their home purchase experience.”
Read the full story here.