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.

Kim Bass: Respectfully Serving Our Community

Habitat For Humanity Has Double Dedication Ceremony Saturday

Chad Wamack Closes 4 Deals


We have all received them…the annoying telemarketing call or knock at the door, interrupting family dinner night. You thought they would eventually go away, especially after you registered your ... (click for more)

Habitat for Humanity of Greater Chattanooga will celebrate a double dedication ceremony in honor of new homeowners, Betty Hurd and Vanester Steele. The ceremony for the homes, located right across ... (click for more)

Chad Wamack of NAI Charter announces the closing of four deals in the Southeast Tennessee market. Two buildings were previous Pioneer Title Agency locations; 6150 Shallowford Road (2,000 square ... (click for more)


Real Estate

Kim Bass: Respectfully Serving Our Community

We have all received them…the annoying telemarketing call or knock at the door, interrupting family dinner night. You thought they would eventually go away, especially after you registered your phone number on the do-not-call list. The reality is that that pesky telemarketers will risk almost anything to try to reach people, including breaking the law. And it’s not only ... (click for more)

Habitat For Humanity Has Double Dedication Ceremony Saturday

Habitat for Humanity of Greater Chattanooga will celebrate a double dedication ceremony in honor of new homeowners, Betty Hurd and Vanester Steele. The ceremony for the homes, located right across the street from each other, will take place at 10 a.m. Saturday at 3415 Kirkland Ave. in Alton Park. Habitat for Humanity’s dedication ceremonies commemorate a family completing the ... (click for more)

Breaking News

State Dismisses Manslaughter Charge Against Jadarius Knox; Anguished Mother Of Victim Says "He Didn't Have To Kill Him"

The District Attorney's Office on Thursday dismissed a voluntary manslaughter charge against Jadarius Knox, saying evidence in the case in which Dakota Biddle was killed showed a self defense theory could be found to be valid. Knox was original charged with criminal homicide in the May 2018 incident on Basswood Drive, but it was reduced to voluntary manslaughter at the Grand ... (click for more)

Lookout Mountain, Ga. Town Center Work To Start Soon; Jim Sabourin Resigns From Council And Is Replaced By Kevin Leckenby

After eight years of talking and planning, Lookout Mountain, Ga., is ready to begin building a new Town Center. To begin with there will be two municipal buildings, City Hall and a fire station. The design of the area has space for private developers to build commercial buildings in the future. Adhering to design guidelines provided by the city and aiming for a cost of $2.8 ... (click for more)

Opinion

Are There Too Many Hamilton County Schools?

Two recent articles reveal a great deal about the present state of local public education. Mixing and matching information and reading between the lines reveals even more. First, there is that loooonnnngg list of Top Hamilton County Schools Salaries 2019. That nearly incredible list covers only salaries from $70,000 and up, and includes 290 different individuals -- approaching ... (click for more)

Roy Exum: A Drum Major For Peace

There have been many Christmas Seasons when I have looked high and low for Christmas Cards that included the poem, “One Solitary Life.” I came across the revered poem easily over 40 years ago during a kiddie matinee at the famed Radio City Music Hall, which is in midtown Manhattan. The Radio Music Hall is huge – it can comfortably seat 6,000 – and so awesome is the Christmas Spectacular ... (click for more)