Potential homebuyers have many things to consider when searching for a new home. Whether they want to be close to major amenities or live in a distinct neighborhood, you shouldn’t downplay how important access to good schools is. A recent REALTOR® survey found that 73% of homebuyers said school boundaries were important to their home search.
The best real estate websites need to offer a streamlined experience that prioritizes customizable search results that allow them to show things like nearby schools, amenities, parks, and more.
Adding this kind of functionality to your website is one of the easiest ways to improve the homebuying experience. Here are a few other things you should know about potential homebuyers and the value they place on good schools.
Clients Are Willing to Pay More for Good Schools
The goal of any REALTOR® is to sell properties. Did you know that one in five homebuyers are willing to pay 6-10% more for a home located within desirable school boundaries? And one in ten is willing to pay nearly 20% more.
Now, this will largely depend on the region you are serving. School boundaries are far more important in larger cities like Toronto, Ottawa, and Montreal, than they are in a rural community located in northern Ontario.
By simply offering your clients the ability to search for schools on your real estate websites, you can increase your chances of selling higher value homes that are near good schools.
Buyers Trading in the Garage and Larger Backyards for Schools
Many parents are placing a high value on proximity to good schools. While this isn’t new, parents are becoming increasingly competitive when it comes to getting their children into the right school.
That same REALTOR®survey found that 18% of homebuyers were willing to give up the larger backyard, 17% their desired number of bedrooms, 16% an outdoor living area to find a house within the school boundaries they want.
Buyers are willing to abandon their dream home if it isn’t located in a desirable school zone. By adding a school search function to your real estate websites, you’ll offer your clients a transparent search process that shows them exactly what they want. That way they can find a house that meets their demands, and one that is still located near the schools they want.
Quality Schools Influence Property Prices
Most families want their children to attend a reputable school. However, that isn’t always the case. Some homebuyers look to purchase their house within school boundaries because it can directly increase their property value.
Neighborhoods with good schools often have parks that are maintained, other community resources like libraries and recreational facilities. All of these things impact the current and future value of your client’s home.
These areas also tend to have active communities. Engaged communities often take better care of their neighborhoods, focus on revitalization and improvement projects, and may even benefit from neighborhood watch and similar programs.
Mitigate Potential School Boundary Changes
Homebuyers that purchase a home on the edge of a boundary run the risk of that boundary changing and forcing their children to relocate.
School boundaries change all the time. Search results that show nearby schools can help a potential homebuyer strategically purchase a home that is well within the school boundary they want. While this isn’t the most common problem, it does happen from time to time, and it’s worth considering.
Add School Searches to Your Real Estate Websites
The best real estate websites today are those that offer value-added services and functionality. You can improve your customer satisfaction ratings by adding a school search function to your real estate website. Not only will your clients be able to search for the schools they want, but they can combine it with other detailed filters to help them find their dream home, in the neighborhood they want.
Are you looking to improve your real estate website? Let Real Estate help you design, develop, and implement the features you need to provide the best possible experience to your clients.