Survey finds school boundaries play major role in home buying decisions
Realtor.com® announced this week the results of its Back to School survey that analyzed how much impact school boundaries have on buyers looking to purchase a home within two years.
The survey, which ran on Realtor.com® from July 18-22, found that three out of five homebuyers said school boundaries impact their decision to purchase a home. A majority of homebuyers are willing to pay one percent to 10 percent above budget to live within school boundaries, according to survey results.
“Our survey demonstrates the large impact school boundaries have on those looking to purchase a home,” said Barbara O’Connor, chief marketing officer at Move, Inc., in a statement.
For those homebuyers who said school boundaries will have an impact on their decision, more than 90 percent indicated school boundaries will be an important consideration. Homebuyers also indicated that they would give up several amenities to live within school boundaries including: pools, accessibility to shopping and nearby parks.
Homebuyers indicated that they would like to be within a certain distance of school boundaries. More than 45 percent indicated wanting to live within school boundaries.
In April, Realtor.com® launched its new mobile school search functionality which allows buyers to search for listings in specific school and district boundaries. Users can filter listings by public schools, districts and private schools.
“This data shows how compelling this new feature is to consumers and the impact it has on their home purchase experience. School search demonstrates Realtor.com®’s commitment to innovation and expansion of features based on the needs of users and customers. We will also be launching a section on our Realtor.com® site focused on back to school tips which will provide more information to help those whose housing decisions are influenced by school boundaries, said O’Connor.”
To search for homes by school on a mobile device, download the Realtor.com® mobile app for iPhone, iPad or Android.