Surprising Ways That School Districts Affect Home Values
Sunday Jan 07th, 2018Share
Schools impact your home’s value more than you think. Here’s what you need to know.
Today, I’d like to address two things for you: “How does summer vacation affect the Toronto real estate market?” and “How does being in a good school district affect real estate values?”
In July and August, Toronto buyers are typically on vacation so it doesn’t leave them with too much time to look for homes to buy. However, now that we’re starting the fall market we are expecting increased interest in active listings. This should lead to more opportunities for home sellers and homebuyers.
Now, to answer the question of how living in a good school district affects real estate values. In the U.S., they are seeing that consumers are willing to make big sacrifices on their houses in order to buy in a good school district.
“Buyers in the U.S. are paying a premium for good schools.”
In fact, one in every five buyers is willing to sacrifice a bedroom or garage in order to be in a good school district. One in three is willing to buy a significantly smaller home in order to be in a good school district. Finally, one in 10 buyers will pay six to 10% more for a home if it’s in a good school district.
As you can see, buyers are willing to pay a premium to live in the best school districts. If you own a home in an area like this, it could be a great time to sell. If you’re looking to buy a home, you’ll have to come ready to pay the price.
If you have any questions for me in the meantime about this or anything else real estate related, give me a call or send me an email. I look forward to hearing from you soon.
Want to sell your home? Get a FREE home value report.
Want to buy a home? Search all homes for sale.