August 20, 2020 at 11:23am | Ryan Flanagan
Goodbye Summer & Hello Fall! Well.. almost.

Every year around this time, we get a break from the Summer heat and I get excited for Fall and everything it brings. Will the cool weather hold? Do I break out the jackets and blankets? Who knows!?

What I do know? Parents are breathing a sigh of relief! They have made it through the last "crazy" several months and waited patiently to see what this school year will bring. The time has finally come to send the kids back to school and hopefully get things back to normal.

Now that were on the topic, lets talk about the affect School Districts have on Home Values.

In this realtor.com article, their research yielded some interesting results.

"Consumers are willing to sacrifice certain things to live in the right school district. Some of the realtor.com survey results were surprising: One out of five buyers would give up a bedroom or a garage for a better school. One out of three would purchase a smaller home to wind up in the right district. Buyers are also willing to put their money where their mouths are. One out of five home buyers said they would pay six to 10 percent above their budget for the right school. One out of 10 would double that to 20 percent. Considering that premium could approach $100,000 in a lot of markets, it makes you wonder: How much investment in a school district is appropriate?"
Source -realtor.com Sam DeBord The Seattle Homes Group

In another article from smartmortgage.com they talk about individuals looking to buy a home that do not have children.

..Even if you don’t have children, a school district is a very important factor to consider when buying a home. It can have a dramatic effect on the resale value of the property. Properties located in good school districts tend to hold their value or even increase in value when the rest of the market has slowed down. Many home buyers are willing to pay more for good schools. They are willing to trade a larger home for a smaller one in a better school system. If you are selling a home in a good school district, you can reasonably ask a higher price for your home than a similar home located in a less desirable school district. If you are a buyer searching for a home in a good school district, you can expect to pay more for that home.
Source - https://smartmortgage.com/how-do-school-districts-affect-property-values/


So.. are you in a good school district? Do you want to be? We would love the opportunity to discuss this topic and any other Real Estate questions you may have. Fill out the form above and let's chat!

The Flanagan Group
#1 in Real Estate 2016, 2017, 2018, 2019, and leading the way in 2020!
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