With the school year rounding off its first couple weeks, I’m sure we’re all still getting used to the new morning routines and extracurricular activities in the afternoon. For Austin, education has always been a stressed quality for creating an appealing place for families. But how important are schools when it comes to buying a new home? This is a question we sought to answer and found some stunning results from a recent realtor.com study. So, if you’ve been doubting the impact of school district boundaries, take a second look at this:
- School district boundaries impacted the decision for over 60% of home buyers
- Over 90% of home buyers said schools were an important factor to finding the right home
- A majority of home buyers are willing to sacrifice amenities to be located near a good school
What Buyers Will Do to Live Near a Good School
Every family wants to be located near a great school. Providing a quality learning environment for their children is always at the top of any parents’ minds. With a closer look at what home buyers are willing to sacrifice, we found that residents were willing to adjust their budget for buying a home — if it placed them near a good school. Here are the statistics:
- 23% would pay 1-5% above their budget
- 20% would pay 6-10% above their budget
- 9% would pay 11-20% above budget
When it came to sacrificing additional amenities and home features to be located near a good school, home buyers were willing to give up the:
- Swimming Pool — 62% (were willing to sacrifice this)
- Nearby Shopping Areas — 51%
- Bonus Room — 44%
- Parks & Trails — 42%
- Square Footage — 35%
- Backyard — 20%
- Garage — 19%
*All statistics were taken from Realtor.com’s “Back to School” Survey
How to Find Your Dream Home near the Right School
Information is key to making sure you’re looking in the right area for your next Austin home. As schools are an important deciding factor to choosing a home, our suggestion is start with getting to know the school districts (and individual schools). To learn about school district ratings, read our post: 2013-2014 School District Information. One of the top school districts in the Austin area is the Eanes Independent School District.
Once you’ve narrowed down some school choices and districts you’d like to live in, it’s a matter of finding the right neighborhood and home for your family. Feel free to contact us if you’d like to know where you should start looking.
Cost vs Benefits for Getting the Right Austin School
For some, education doesn’t have a price. Parents want the best education they can provide for their children, but with this high demand for good schools, it comes at a cost. With high demand means higher prices for homes. Even though there is no hard formula for it, it’s easy to see how home values rise when they are located near the best Austin schools. One thing to always keep in mind is how much you can afford and what are you willing to sacrifice. Finding a home near a great school doesn’t have to be a list of endless sacrifices, so you can afford your dream home. It just means you need to get creative in your search.
Let us help you find the right home and school for your family, or you can start searching for available homes on the market and send us any questions you might have!