Friday, May 10, 2013

First-Time Home Buyers Declare Good Schools a Priority

New Jersey home sellers are always interested in how to get top dollar for their homes. While there are a number of ways you can accomplish this, there is one element of your home you cannot change: the location. Just how important is it? The answer may rest in buyer survey results shared by Doorsteps.

The analysis of first-time home buyer surveys revealed what these buyers were most likely, and least likely, to compromise on when it came to buying a home. They are surprisingly willing to compromise on things like the size of the home they want, and the price they will pay.

But when they do not want to compromise, one issue seemed to outweigh the rest of the concerns: good schools. First-time home buyers ranked closeness to schools and school quality as their least negotiable items.

This is good news for Millburn-Short Hills home sellers, as Millburn High School placed 69th in the nation according to Newsweek's 2013 school quality evaluations.  Millburn High also placed among the 2013 gold-ranked high schools identified by US News & World Report. The school is well-respected for the academic proficiencies of its students as well as the caliber of its faculty.

While not all home buyers have school-age children, good schools are always an important consideration as they affect the desirability of a neighborhood, and therefore affect the resale value of a home. Millburn High School's excellent reputation helps draw first-time buyers as well as repeat home buyers to our area.

Back to the surveys, it should be noted that first-time home buyers also value living in proximity to family and friends, though schools are the primary concern. Home sellers cannot control every hot button a home buyer may have, but as long as buyers are getting their priorities met in regards to schools and location, other details may be open to compromise! This is where the art of negotiation comes in, and I will certainly help you!

As your experienced real estate professional, I'm happy to help home buyers and home sellers in the  Millburn-Short Hills, Livingston, and Summit area! Contact me for the latest market information and for expert real estate guidance!

Elaine Pruzon
Coldwell Banker Residential Brokerage
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