A summary of first-time home buyer trends put together by Doorsteps holds good news for Chevy Chase and Bethesda home sellers. Namely, our area has something that most home buyers are demanding above all else: excellent schools. Recent surveys rank school quality among the top concerns for home buyers!
School Quality Makes the Greater DC Area a Home Buyer Magnet
You might recall from our April 25 blog post that Walt Whitman High School and Bethesda-Chevy Chase High School placed among the 500 best high schools in the country, according to U.S. News & World Report. Additionally, there were several more Montgomery County public schools with top scores.
According to 2012 surveys, first-time home buyers listed school quality and nearness to schools as the areas they were least likely to compromise on when considering a home purchase. Instead, they were more apt to accept living further away from work, or accept a less desirable neighborhood.
First-Time Home Buyers Willing to Compromise on Home Price & Condition
While most surveyed buyers were not willing to budge on their school priorities, more of them were flexible about other aspects of home buying:
- Size of home
- Home price
- Condition of home
- Style of home
- Lot size
In summary, the surveys indicate that first-time home buyers have a very clear set of priorities. They want good schools, and they want to live close to them. They prefer to reside near family and friends. To achieve these objectives, they are willing to compromise financially and aesthetically.
Chevy Chase and Bethesda Real Estate Demand
In our current market conditions, home sellers have the advantage in the Metro DC area. Our strong employment rate and our nationally recognized schools will continue to attract buyers.
Our world-class shopping, dining, arts and entertainment provide a quality of life that keeps residents engaged in our area. Our vibrant, well-kept neighborhoods and parks reflect the sense of community and civic pride that our residents enjoy.
When you are ready to buy or sell a home in the beautiful DC suburbs, please contact us for expert guidance!
Melinda Estridge
The Estridge Group-Long & Foster Real Estate, Inc.
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