Metairie and New Orleans residents don’t have to have children at home
to know when we’ve gone through the familiar back-to-school rituals. Just turn
on a radio or TV, step into a retail store, or drive past a school and the
calls to educational muster are evident. At the same time, it’s hard not to be
reminded how significant education is when it comes to Metairie and New Orleans home buying—how likely it is for schools to be on
the forefront of many buyers’ minds.
Most people know intuitively that top-notch schools carry significant
weight in the searching and home buying processes—but the result of a survey
done by realtor.com has spelled it out in black-and-white. Their research reveals
that more than 60% of buyers consider
school district boundaries during their home buying process. It’s a surprisingly
weighty number.
The depth of interest that buyers registered was also illuminating. The
same survey uncovered the fact that prospective homebuyers are willing to spend
more—and give up other features—in exchange for a house located in a preferred school
district. For example, many buyers said that they are ready to ignore access to
shopping malls and parks to be in a district where their preferred school is
located.
Prospective buyers are likely to also factor in the impact the same
phenomenon could have on a property’s resale value down the line. That could be
part of the reason why more than 23% of respondents said that are willing to
pay 1-5% over their budget to be in a preferred school district boundary. Another
20% said they would pay 6-10 % above budget, while 9% would pay as much as
11-20% more!
When queried about which factors weigh most heavily on their home
buying preferences, over 90% said that school district boundaries are either “important”
or “somewhat important.” Only 7.4% said that school districts are “unimportant”
or “very unimportant,” while 2% classified them as “neutral.”
This level of unanimity should be of interest to anyone about to embark
on their own Metairie or New Orleans home
buying expedition—whether or not they have children of their own. It’s hard to
ignore the proposition that when you go to resell a house in the future, its
school district may carry the same importance to home buyers down the line. If
today’s buyers give such importance to school district boundaries, it may not
pay (to borrow Wall Street’s famous phrase) to “fight the tape.” In any case, it
always pays to ask questions, do some neighborhood research—and to call me when
you’re looking to buy or sell in Metairie or New Orleans!
View Homes For Sale in New Orleans
Terez B. Harris
Terez Harris NOLA Real Estate Group
Terez Harris NOLA Real Estate Group
(504)297-2619
www.TerezHarris.com
TerezHarris@kw.com
Search the MLS!
(multiple listing service)
Search Terez's Active Listings!
TerezHarris@kw.com
Search the MLS!
(multiple listing service)
Search Terez's Active Listings!
Terez B. Harris Terez Harris NOLA Real Estate Group 504-297-2619 www.TerezHarris.com
Keller Williams Realty New Orleans 8601 Leake Ave. New Orleans, LA 70118 504-862-0100
Keller Williams Realty New Orleans 8601 Leake Ave. New Orleans, LA 70118 504-862-0100
Each office independently owned and operated. All brokers and agents licensed in the state of Louisiana.
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