Making the Choice Between a Good School and a Better House

A Realtor.com survey conducted July 18-22 indicates that school preferences heavily influence home-buying decisions, with many parents willing to spend as much as 10 percent above budget to live in their favored district. The poll of nearly 1,000 participants found that school district boundaries play into purchase decisions for more than 60 percent of home buyers — 90 percent of whom consider living in the district of their choice “important” or “somewhat important.” The responses also reveal that parents are willing to forfeit other amenities in order to buy a home in a particular school district. For example, more than 62 percent said they would sacrifice a pool or spa, more than 50 percent would give up accessibility to shopping, nearly 44 percent would do without a bonus room, and almost 42 percent would pass up nearby parks and trails. Nearly half of the poll-takers, however, said they would not want to forfeit living in a close-knit, pedestrian-friendly neighborhood. | Read More