Better schools equal pricier homes | Bedford Hills Real Estate

When it comes to purchasing a new home, school districts play a significant factor in the final decision. In light of this, a new study revealed that home prices escalated significantly in highly favored school zones. Per Redfin Blog:

Everyone assumes that better school districts tend to have bigger homes, higher quality homes, larger lots, or a more prime location (views, quiet streets, etc). We’ve debunked that assumption. When accounting for size, on average, people pay $50 more per square foot for homes in top-ranked school zones compared with homes served by average-ranked schools. This means that the price differences for similar homes located near each other but served by different schools can range from tens to hundreds of thousands of dollars.

                    Source: Redfin Blog

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