Parents in the Palo Alto / Menlo Park (PAMP) area will pay a lot of money for a house in a neighborhood that has substantially better play opportunities for their kids. That’s one of the most important findings from the Playborhood Survey. (See Playborhood.com for more survey results.)
81.4% of PAMP parents said they would move to a new house in a neighborhood adjacent to their current one that has “significantly better play opportunities for your child(ren)” if the move cost them no money. Of the 18.6% who said they would not move, many commented that the cost of moving outside of money costs is just too high. The figure above summarizes PAMP parents’ answers to the question of how much they would pay for a house in a neighborhood with substantially better play opportunities. The PAMP area is defined as Palo Alto, Menlo Park, Atherton, Woodside, Portola Valley, Mountain View, Los Altos Hills, and north Los Altos.
The median amount of money that a parent would be willing to pay is about $60,000. That’s roughly 5% of the median price of homes owned by members of this group, who, as respondents to online surveys like ours, are probably somewhat more affluent than average for this area. 5% is a large proportion
As I’ve written in another article, realtors around here usually don’t have much to say about play opportunities outside a house, so they’re failing to meet a key need of their customers.
At Playborhood, we see a role for ourselves both in helping parents utilize the real estate market to find more play opportunities for their kids in two ways:
Identifying homes already in Playborhoods – i.e. in neighborhoods with great play opportunities.
Helping parents in neighborhoods that have houses for rent or sale “recruit” other families with kids, thus taking a big step toward creating a Playborhood.
Would you like to get this sort of help? Stay tuned…