Do Schools Matter In House Prices In Charlotte, NC?

There has always been a lot of discussion that the assigned schools for a particular house can affect the home value of the house when trying to sell it. The argument goes the better the school the higher the price you will get for the house. Home buyers are willing to pay more for better schools...But is that just an adage or is it a true fact? I always hear people say that they want the best possible schools they can get for their budget price. Well a recent study from Realtor.com showed that 60% of home buyers surveyed would pay more to send their children to a better school system for their same house. The part that was most revealing was that Homebuyers were willing to go as high as 20% higher for the comparable house for the school. I know the Charlotte area has some great schools that home buyers are constantly flocking toward. We have Myers Park High School, Audrey Kell High School, Providence High School South Mecklenburg High School and many others in surrounding towns as well. But what premium do you put on sending your child to one of those schools versus sending your child to one a tier below in the rankings? I know people that pay upwards of $60,000 to $80,000 more to buy a home in a certain school district versus the same one in another school district. As recent study by Redfin found out in some areas people will pay as much as $130,000 more for a better High School.... So, the question is does the schools make a difference in home prices? The answer is without a doubt yes. By how much varies on the individual and how much more they are willing to spend for that school. In Charlotte the average is 18% more than a comparable house in a neighborhood with a school rated a tier lower. The key here is that if you are going to list your house for sale and your home is designed and being marketed to a family with children then you will want to know what the schools are and how they rate. It could be the difference in thousands of dollars in your pocket..... Dave diCecco Realtor/Broker Helen Adams Realty Cell: 704-519-7895 ddicecco@helenadamsrealty.com www.davedicecco.com