If a house has a school close by, then it will be much more valued by the homebuyer in contrast to property far from any school. Such circumstance happens in cities like Madrid and Barcelona because the purchaser takes very much into account the fact that going by car or using public transport is an enormous waste of time. Some time ago, we wrote an article in this blog about the homebuyer profile. We mentioned that the quality of life was one of the most important issues for homebuyers as he/she wishes to live as well as possible and also enjoy the best available comforts. In this regard it is not surprising that the purchaser bears in mind the proximity of a school as this will enable the family with children to save time, a fact which means an improvement in the quality of life. It has been proven that in the most expensive and demanded areas in Madrid, property which is close to a school fetches a higher price than the one which is not. In consequence, homebuyers who are looking for property in high standing areas in Madrid, prefer houses near a school so as to avoid having to use the car or public transport. We analyse this in the blog of Estate One.

SAVING TIME

It is estimated that in Madrid more than one million vehicles are driven to go to work every day. According to Inrix Global, an American company which is specialized in mobile applications connected to traffic and vehicles, came to the conclusion that Madrileños waste an average of 42 hours per year due to traffic jams. On the other hand, if we also add the time which is spent daily in taking children to school, then the situation can become infuriating and it goes without saying when we are at the mercy of the elements such as the rain or even an unexpected traffic accident. On the whole, time is one of our most precious treasures. Therefore, a homebuyer would normally prefer to buy property close to a school even if this means making a more important investment. The thing is that not only do we save time but we also improve our health. We must bear in mind that the time when schools start and finish are peak hours. Therefore, using the car to take and collect children from school will, in the long run, affect the driver´s health. Some weeks ago, we wrote an article in this blog about Boadilla del Monte which is a very demanded residential area in Madrid. In Boadilla, the homebuyer appreciates and values the services which are available being one of them the large number of schools there.

UP TO 4% MORE EXPENSIVE

Some studies on the matter show that in Madrid, properties which are close to schools are 4% more expensive than the ones with the same features but located far away from them. Furthermore, there is more than an 80% offer of housing without a school nearby with regard to property close to a school. Therefore, the homebuyer will normally accept and come to terms with this price increase so as to improve the quality of life. In some cases, the homebuyer will even move to a different neighbourhood so as to live near a school. In these cases, the investors usually seek spacious family houses which, apart from closeness to a school, have recreational areas and terraces as well as storage rooms.

Picture 01: Brujuleo

Picture 02: Luis García