How kids impact the buying and selling process for families

When searching for a home, priorities for families with children under 18 unsurprisingly revolve strongly around schools.

According to the National Association of Realtors®’ 2019 Moving With Kids study, which surveyed more than 7,000 people, the quality of the schools and the closeness to the schools are the top features parents consider when looking for a home to purchase. However, the top problem parents report running into is actually finding a property that suits their family’s needs.

Additionally, the cost of daycare can delay some parents. More than one-quarter of respondents said they put off buying a home because of child care expenses, and made other sacrifices as well. Thirty-one percent said they compromised on the condition of the home and/or the size of the home and 24% comprised on the price of the home due to child care expenses.

Yet, the majority of families realize a Realtor® is their best bet to finding a home that is right for them and is in a school district that is desirable to them. Eighty-six percent of parents with children under 18 in the home reported using an agent when homebuying. Not surprisingly, referrals were the top way parents found a real estate agent, at 41%, followed by using a Realtor® they had used in the past at 14% and 7% found their agent by inquiring about a property they found themselves online.

When selling a property, 25% of parents said they had to list because their house became too small, while 19% said it was due to a job relocation. Thirteen percent cited a change in the family situation, like a new child or marriage. Again, the majority of parents found their agent via referrals or past experience.

Despite hectic schedules, most parents (73%) prefer when their agent calls with updates, and 70% like when agents send posting as soon as something changes with a property, like it has been listed, the price changes or it’s under contract. Still, two-thirds like updates via text and 53% want market reports on recent sales and listings.