The quality of schools impacts home prices

Did you know that the quality of schools impacts home prices? People are not just interested in the quality of school districts for the educational opportunities they provide, they also consider school quality as part of the overall value of the real estate. In addition, good schools can help insulate a home from market fluctuations and therefore make a property a more sound investment.
Among affluent homeowners, more choose to live in the most sought-after school districts. According to recent statistics, the more affluence there is in a community, the higher the test scores. These test scores are just one important measure of “good schools,” but they’re a highly quoted gauge. It could even be suggested that high home prices make better schools.
Realtor.com surveyed homebuyers to find out about the importance of good schools to property purchasers. The results showed that 29% of homebuyers listed school quality and 22% listed proximity to schools as deciding factors in their home purchase. The survey also found that many homebuyers are willing to pay more for homes near good schools.
That’s a good thing for those of us living in Santa Barbara because we get to enjoy all the benefits of our high quality schools. Just last year, the Montecito Union School, which serves children from kindergarten to 6^th grade, was awarded the State of California’s “Distinguished School” status. Meantime, Santa Barbara High School prides itself on the fact that 91% of the students pursue further education upon graduation.
The bottom line: the quality of schools impacts home prices.
If the quality of schools impacts your home buying decision, think about moving to Montecito, or any of the other upscale communities of Santa Barbara. I am always excited to discuss all the benefits of living here, so please give me a call at 805.886.9378 or email me at Cristal@montecito-estate.com. Looking forward to helping you find the home of your dreams in an excellent school district!