There are no ifs, ands, or buts about it. The quality of nearby schools has a definite impacts home prices. While this has always been a solid fact in the real estate industry, not every single potential first time homebuyer is aware of this fact. Current statistic illustrate just how important this factor is when it comes to determining home prices. In fact, many homebuyers are willing to pay the price for good schools and will even choose smaller homes if they are near guaranteed high quality school systems. Read on to learn how schools affect home prices.
Homebuyers Will Pay More For Better School Districts
According to a recent survey, people will make significant sacrifices in order to have a home with access to a better school district. One fifth of buyers would give up things such as a garage or extra bedroom if it ensured better schools. One third of buyers would choose a smaller home if it meant a better school for their children, and over half of those surveyed would sacrifice convenient shopping options. Homes in good school districts are desirable, people will pay more for them, and that has a profound effect on home prices.
Quality Schools Protect Home Prices
A survey of 1000 participants showed that 91% of those surveyed include the boundaries of quality school districts in their decision making when it comes to purchasing a home. Homes with good schools near by do much better in even falling markets than those near mediocre or poor schools. For those looking to start a family, a home in a good school district is worth sacrificing for, spending on, and investing in across the board.
A Title Company You Can Trust: Colony Title
At Colony Title, we will help you through the process of getting your property’s title and help you avoid the pitfalls of hidden costs while you buy your home. We are also well trained in identifying any and all errors in public records and helping you resolve them. We specialize in real estate title insurance in both Maryland and Washington, D.C., and we will perform an expert title search, check through all past documentation, and examine records for any fraud or forgery. For more information on how we can get you into the home of your dreams, contact us online or give us a call at (410) 884-1160. To get more updates on housing markets and how to get into your home, follow us on Facebook, Twitter,LinkedIn, and Google+.