If Real Estate is all about Location, Do you Know what the Main Driving Force is?
"I'd like to find a home in the school district with the highest test scores. Can you help me find my new home?"
Years ago, a question like this from a prospective homebuyer would raise eyebrows. Now, test scores and accelerated programs are top features that dominate many homebuying discussions across the country. In a recently-released survey from Realtor.com, the adage "location, location, location" still holds true, but for three–quarters of buyers, this really means "school district, school district, school district." This is true for 91% of homebuying families with children.
For buyers that place a high priority on school districts 78% are making compromises on their home features and wish lists to live in their ideal school district. What are buyers giving up to land in the best school districts? 19% gave up a garage (one of today's most desired features), 17% gave up an updated kitchen, 17% gave up the number of desired bedrooms and 16% folded on their desired outdoor living space.
Many buyers simply aren't willing to compromise on the school district, even though homes located within these higher–rated school districts are 49% more expensive on average than the median–priced home nationwide, according to a separate study from 2016. These homes also sell more than a week faster than other properties.
Be sure to visit My Home by Freddie Mac® to learn more about homeownership and the homebuying process. As always call or email me with questions. I am always here to help!
Lexington Ky is always #1 in my book! Whether you want to buy a downtown condo, a custom walkout ranch on a golf course, or a horse farm in the country, I can help find the perfect home for you – as well as help you sell your home. In addition to Lexington Real Estate, I specialize in the nearby towns of Paris, Midway, Georgetown, Winchester, Nicholasville and Versailles.