Kim Bass: Schools’ Major Impact On Real Estate

Monday, July 29, 2019 - by Kim Bass, president, Greater Chattanooga Realtors
It’s hard to believe, but it’s already back-to-school time. As a realtor, every day I see how important schools are to families looking to buy a home. Luckily our area has many outstanding schools, which makes my job easier. It’s easy to show houses to people who are excited about the great schools that their kids will attend. 

Buying and moving into a new home is stressful, but moving with school-aged children adds an entirely different set of requirements and stresses.
The unique needs of homebuyers and sellers with children under 18 are explored by the National Association of Realtors in a recently published study, the 2018 Moving With Kids Report.

Unsurprisingly, schools play a critical factor in the purchasing decisions of buyers with children. Fifty percent of buyers with children say the quality of a neighborhood’s school district is important, compared to 11 percent of buyers without children. Convenience and proximity to schools is also a crucial consideration to buyers with children, with 45 percent saying it is important factor. Just six percent of buyers without children agreed.

When choosing a home, buyers with children tend to purchase larger homes than their child-free counterparts. The average buyer with children under 18 purchases a 2,100-square-foot home with 4 bedrooms and 2 bathrooms, while the average buyer with no children chooses a 1,750-square-foot home with 3 bedrooms and 2 bathrooms. Both groups prefer a single-family, detached house.

More than a quarter of all buyers with children, 27 percent, said childcare expenses delayed the process of buying a home. Those expenses also have an impact on the buying process, forcing buyers with children to make compromises on the house they purchase. Thirty percent of these buyers compromised on the size of their home, 29 percent compromised on the price of the home and 22 percent on the condition of the home.

When it comes to selling a home, 24 percent of those with children choose to sell because their house is too small. Only 8 percent of people without children at home sold their house for the same reason. This is further demonstrated when sellers were asked what they want most from their agent. Sellers with children want their agents to sell their home within a specific timeframe (22 percent), more so than sellers without children (20 percent). However, sellers both with and without children expect their realtor to provide a broad range of services and manage most aspects of their home sale, 80 and 79 percent respectively.

For sellers with children, urgent is the word that most often describes their selling situation: 26 percent of sellers with children qualified their need to sell as 'very urgently' and needed to sell their home as quickly as possible. Compare that to only 14 percent of sellers without children.

Buying a house is rarely just a financial transaction, especially when children are involved. Realtors help buyers navigate every emotional and financial factor to ensure families find their dream home.

Real Estate Transfers For Dec. 5-11

Greentech Withdraws Controversial Residential Project On Mercer Street

Kim Bass: 2019 In Review


NOTICE: The Hamilton County Register’s Office did not publish this data. All information in the Register’s Office is public information as set out in T.C.A. 10-7-503. For questions regarding ... (click for more)

Greentech has withdrawn from a controversial residential project on Mercer Street in Lupton City. Chris Anderson said he does not know what will happen to the property, but he said the owner ... (click for more)

As the end of the year approaches, I wanted to take a few lines to reflect on my year as the 2019 President of the Greater Chattanooga Realtors. Time flies, and I think it’s important to look ... (click for more)


Real Estate

Real Estate Transfers For Dec. 5-11

NOTICE: The Hamilton County Register’s Office did not publish this data. All information in the Register’s Office is public information as set out in T.C.A. 10-7-503. For questions regarding this report, please call Chattanoogan.com at 423 266-2325. GI numbers, listed when street addresses are not available, refer to the location of transactions (book number and page number) in ... (click for more)

Greentech Withdraws Controversial Residential Project On Mercer Street

Greentech has withdrawn from a controversial residential project on Mercer Street in Lupton City. Chris Anderson said he does not know what will happen to the property, but he said the owner no longer wants to pursue the current plan. It included 23 single-family lots on 2.6 acres. Mr. Anderson said there had been meetings with the community for a year, but no agreement ... (click for more)

Breaking News

Tivoli Theatre Foundation Acquires Tivoli Center Building Next Door To Tivoli Theatre

The Tivoli Theatre Foundation has purchased the property adjacent to the Theatre and plans to continue the restoration of the venue as well as renovating the new property., officials said. The investment will include the creation of a performing arts center for Chattanooga. “Since its inception, the Tivoli Foundation has reinvigorated the performance arts venues in Chattanooga,” ... (click for more)

Lookout Mountain, Ga., Council Chooses Builder For Town Center; To Issue RFP For Commercial Portion; Trail Named For Super Volunteer Campbell

The Lookout Mountain, Ga., Town Council on Thursday night selected a builder for the long-awaited Town Center and also moved to issue an RFP for a developer for the planned commercial part of the center. Mayor David Bennett, saying next year will be a banner one for the town, said the Town Center, 12 years in the making, is on schedule to be built during the year. Ground breaking ... (click for more)

Opinion

Abuse To Animals Is Intolerable

In a recent article titled “McKamey Animal Services Seeks Information Pertaining to Dog Fight Victim”, McKamey Animal Center is urging people to share any information regarding a recent dog fight victim that was left abandoned with multiple serious injuries. Abuse to animals is something that I cannot tolerate in the slightest. My heart goes out to the precious little dog that ... (click for more)

Sister Says Leg Surgery For Roy Exum Is A Success

The leg surgery for Roy Exum on Friday afternoon was a success, his sister, Ellen, said she was told by the physician. Mr. Exum, the long-time columnist in this spot for Chattanoogan.com, has suffered for a lengthy time with a badly infected leg following surgery on an arthritic knee. He was told this week that the leg was so damaged that it would have to be amputated or risk ... (click for more)