Top reasons School Ratings Matter When House Hunting
The next buyer will consider the school ratings, too
According to the 2014 National Association of REALTORS Profile of Home Buyers and Sellers, 29% of homebuyers listed school quality and 22% listed proximity to schools as deciding factors in their home purchase. Another survey conducted by Realtor.com revealed that 91% of individuals surveyed included school district boundaries in their decision-making process. You may well be surprised to find out that not all of the shoppers involved in the studies had kids.
More money spent on schools means more money invested in homes
There’s a correlation between school expenditures and home values in any given neighborhood, according to the National Bureau of Economic Research. Their report, “Using Market Valuation to Assess Public School Spending,” found that for every dollar spent on public schools in a community, home values increased $20.
Higher school ratings equal higher home values
A Brookings Institution study investigated the 100 largest metro areas in the country and found an average difference of $205,000 in home prices between houses near high-performing and low-performing schools.
And good school ratings help homes maintain value
While adjustments in the economic landscape and local area can ripple across the market, a great school district can sometimes help insulate a home from market fluctuations.
Great school districts usually mean great neighborhoods
Often there’s a correlation between super school districts and safer neighborhoods, better shopping and transportation and great public amenities – like parks. All of these factors enhance the desirability of the neighborhood, which translates to higher home values and a better deal for you when it’s time to sell.
A great real estate agent is able to provide insight on the schools in the neighborhoods where you’d like to to purchase.Nick & Cindy Davis have lived in the Tampa Bay area since 1998 and can assist you in finding the home of your dreams. We are always available at 813-300-7116 or simply click here and we will get started working for you.