Homebuyers Stay Focused on Quality of Schools

There are plenty of factors to consider when buying a home: The type of home you want, the number of restaurants and shops near a residence, the home’s price and how easy it is to get to highways and public transportation.


But for parents, the quality of nearby schools remains, by far, the most important factor influencing their home-buying decisions.


The recently published Homebuyer Insights Report from Bank of America found that more than 75 percent of parents say that their child’s education is a key factor in their efforts to find a new home.


Of these parents, 53 percent told Bank of America that they would buy a new home in a specific neighborhood to get their children into a better school.


The survey found, too, that 64 percent of parents say that knowing the quality or ranking of area schools is extremely important.


None of these numbers are particularly surprising. Parents are of course focused on the quality of their children’s education. It makes perfect sense, then, that they would want to live in an area that boasts quality schools.


For homeowners, living near highly-ranked schools is also a positive, even if these owners don’t have school-age children of their own. Good schools do a lot to boost the value of a homes. You can bet that you can sell your Chicago condominium or single-family home for more dollars if it’s located near a school with a great reputation. You’ll also find that a greater number of buyers are interested in your property.


That’s why it is important to work with a REALTOR® who knows your neighborhood when you’re hunting for a home. Such a REALTOR® will know which school districts are highly regarded. You can then make your home-buying decision with confidence, and know that you are buying in an area in which your local schools will help make your residence more desirable to buyers when it’s time to sell.