Realtor.com® recently announced 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 found that 3 out of 5 home buyers surveyed said school boundaries will impact their home purchasing decision.
Key Survey Findings:
A majority of home buyers who said school boundaries will have an impact are willing to pay 1 percent to 10 percent above budget to live within school boundaries:
- 23.59 percent would pay 1 percent to 5 percent above budget
- 20.70 percent would pay 6 percent to 10 percent above budget
- 8.98 percent would pay 11 percent to 20 percent above budget
- 40.33 percent would not go above budget
For those home buyers who said school boundaries will have an impact on their decision, the majority indicated school boundaries will be an important consideration:
- 90.53 percent said school boundaries are "important" and "somewhat important"
- 2.04 percent were "neutral" around importance of school boundaries
- 7.43 percent said school boundaries are "unimportant" and "very unimportant"
Home buyers who said school boundaries will have an impact on their decision also indicated that they would give up several amenities to live within school boundaries of choice:
- 62.39 percent would do without a pool or spa
- 50.60 percent would give up accessibility to shopping
- 43.96 percent would pass on a bonus room
- 41.99 percent would offer up nearby parks and trails
Home buyers indicated that they would like to be within a certain distance of school boundaries:
- 45.19 percent want to live within school boundaries
- 33.67 percent want to live within a few miles so their children can ride the school bus
- 17.20 percent want to live within a mile so their children can walk to school
mrisTV.com has a couple of tutorials to help you use School Boundaries in your Matrix searches. Click here to learn how to search within school boundaries or here to learn how to apply school boundaries layers to your auto emails.