Poll: Are Highly-Rated Schools Important to Homebuyers?

New findings from the National Association of Realtors® (NAR) show that the quality of schools is a critical factor in deciding whether or not to buy a home.

Homeowners and non-homeowners were asked how important high rated schools are in their home buying decision. Over two-thirds of those surveyed said that highly rated schools were either very or somewhat important in their decision.

When asked about what considerations were taken into account when choosing a new neighborhood, 25 percent of respondents ranked proximity to friends and family as most important, followed by proximity to their job and a short commute (24 percent). Proximity to friends and family is most important to those in rural areas (31 percent) compared to suburban and urban (25 and 21 percent respectively).

Which of the following would be important to you when choosing a new neighborhood?

• Highly rated schools
• Proximity to friends and family
• Proximity to your job/ short commute

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“When you buy a home, you do not just buy the house; you buy a community – neighbors, parks, stores and schools,” said NAR President Elizabeth Mendenhall.

These results come from NAR’s quarterly Housing Opportunities and Market Experience (HOME) survey. The survey tracks topical real estate trends, including current renters and homeowners’ views and aspirations regarding homeownership, whether or not it’s a good time to buy or sell a home, and expectations and experiences in the mortgage market.