SELLERS ASK FOR 30 PERCENT MORE FOR HOMES IN TOP PUBLIC SCHOOL DISTRICTS
Private schools can be pricey, but so can homes in top-rated school districts, a recent study found.
In an Aug. 13 blog post, Trulia Chief Economist Jed Kolko found that asking prices for homes in a school district with a GreatSchools rating of nine or 10 were 32 percent above average. On the other hand, asking prices were 41 percent below average in areas with GreatSchools ratings of one or two.
Kolko points out that although buyers who don’t pay private-school tuition can afford a much pricier house, in the long run, education isn’t cheap. “The hard truth is that both can cost an arm and a leg,” he wrote.
Simply, what sells a home is 1. Condition of property 2. Zip Code (Location, location, location), and 3. School District. Whether you have children or not, when you get ready to sell your home School Districts are a critical valuation for prospective buyers.
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