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    Real Estate
    Monday, May 06, 2024

    Survey: Buyers prefer good school districts to garages, updated kitchens

    Nearly three out of four buyers who purchased a home recently said they considered the quality of their local school system to be important, according to a recent survey by Realtor.com. Most buyers also said they had to compromise on home features to get a property in their preferred school district, often giving up some of the most popular home amenities to do so.

    The survey polled 1,000 people who closed on a home in July. Seventy-three percent of these respondents said they considered school district boundaries to be important, with 39 percent saying school boundaries were very important and 34 percent saying they were important.

    Nine percent of respondents were neutral on the importance of school boundaries. Eighteen percent considered them unimportant.

    Naturally, respondents were more likely to place importance on schools if they had children. More than nine out of 10 buyers with children—91 percent—said school boundaries were important to their search, compared to just 34 percent of those without children.

    Eighty-six percent of those between the ages of 18 and 34, and 84 percent of those between the ages of 35 and 54, said they thought the quality of the local school district was important or very important. More than half of buyers over the age of 55 did not consider the school district to be an important factor, while 37 percent thought it was important.

    Of those who considered school quality to be important, 78 percent said they had to compromise on the features of the home they purchased to live in their preferred school district. The remaining 22 percent said they did not have to compromise.

    The survey found that buyers were most likely to give up two of the most popular home features identified in a March survey by Realtor.com. In that poll, 27 percent of buyers said they considered a garage to be an important feature on their next home, while 24 percent were looking for an updated kitchen. The most recent survey found that 19 percent of buyers who considered school quality to be important had opted for a home without a garage, while 17 percent bought a home without an updated kitchen.

    Another 18 percent bought a home with a smaller backyard than they would have preferred. Seventeen percent compromised on the number of bedrooms in the home, while 16 percent purchased a property with a smaller outdoor living area.

    Since school quality was less of a consideration for older buyers, they were less likely to sacrifice their preferred home qualities. While 17 percent of the 18-34 age group and 21 percent of the 35-54 age group didn't have to compromise on home features, 42 percent of those ages 55 and older said they were able to buy a home with all of their desired features.

    Respondents were also asked what factors they considered to be hallmarks of a good school. Fifty-nine percent said high test scores, followed by 53 percent who wanted the school to have accelerated programs. Forty-nine percent considered arts and music classes to be crucial to a good school, while 43 percent named diversity and 41 percent said before- and after-school programs were an important factor.

    Older buyers were more likely to place importance on accelerated programs, with 62 percent of those ages 55 and older saying they were part of a good school. Half of all buyers under the age of 55 also considered this factor to be important.

    Younger buyers valued diversity more than older ones, with 49 percent of the 18-34 age group saying they considered diversity to be a factor in a good school. Thirty-seven percent of those ages 55 and older felt the same.

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