What Homebuyers Will Give Up for Good Schools

MarketWatch reports that 78 percent of homeowners are willing to give up some home features to live near a good school.

This is according to a Realtor.com survey of 1,000 people who closed on a home purchase this year. Respondents were most frequently willing to give up garages for school proximity (19 percent), followed by an updated kitchen (17 percent), their preferred number of bedrooms (17 percent), and outdoor living space (16 percent).

In addition, nearly three-quarters of homebuyers reported that living in a good school district was important factor in their house hunt. Among buyers with children, that figure jumped to 91 percent.

“School districts are an area where many buyers aren’t willing to compromise,” Realtor.com chief economist Danielle Hale wrote in the report. “For many buyers, ‘location, location, location,’ means ‘schools, schools, schools.’”

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