Why Nearby Schools Are a Big Factor in Home Searches

There are several important qualities that buyers will be considering for a given home or area as they search for a new home, and one that’s high on the list for many is the presence of good schools in the area. For buyers with school-aged children or those preparing to enter this age range, this is often a top priority.

At Daybreak Living, we’re happy to help you peruse our wide selection of homes for sale to find those that are nearest to the top local schools for your children. Let’s look at some data on the kinds of buyers who prioritize schools as a top factor in their home purchase, the elements that go into defining a good school, and how these qualities impact nearby home values.

Buyers Who Prioritize Schools

It’s important to note that quality schools aren’t a top priority for everyone when buying a home – but for those who it does matter to, it tends to matter a lot. Per a survey at realtor.com, buyers who want to live in a certain school district are often willing to give up other major features of the home just to ensure their placement in that district. Such features, and the percentage of buyers who would sacrifice them, include:

• Garages (19%)
• Large yards (18%)
• Bedrooms (17%)
• Upgraded kitchens (17%)
• Outdoor areas (16%)

However, as you might expect, research also shows that those without children in the home are significantly less interested in schools. Only 10 percent of such buyers feel that quality of schools is an important factor when looking into a home.

Factors Defining Good Schools

So what makes a good school in the eyes of buyers, anyway? According to the same study linked above, the following factors are the ones most frequently identified by buyers as valuable when it comes to schools:

• Test scores (59% of respondents indicated importance in this area)
• Accelerated learning programs (53%)
• Arts and music classes (49%)
• Diversity (43%)
• Before-school and after-school programs (41%)

In addition, the survey noted that younger buyers tend to prioritize diversity to a greater extent, while older buyers place more value on accelerated learning programs.

Schools and Home Value

In turn, how do good schools in the area impact home values? There’s no set answer here, and yours will depend on exactly where you’re looking. Some national studies have indicated that housing costs over twice as much near high-scoring public schools than near low-scoring ones, but this could also be in part because high-scoring schools tend to be larger. Property taxes may also play a role.

As a general rule of thumb, areas like good schools, quality neighborhoods and strong communities tend to work together and increase home prices.

For more on why schools matter when searching for a home, or to learn about any of our homes for sale or real estate listings, speak to the staff at Daybreak Living today.