Housing affordability is a national crisis, and homeownership can feel especially out of reach for working families with young children.
At today’s home prices, the typical working American household would spend about 52% of its annual income just on housing and childcare, according to data from Redfin and Winnie.
But the cost of childcare varies widely by metro area and even by neighborhood.
“[Home] cost is only part of the equation,” Sara Mauskopf, co-founder and CEO of Winnie, said in a Redfin study. “Families should also make sure childcare is actually available near where they want to live. If care is scarce or unaffordable, an otherwise affordable area may not be a practical place for a family with young children.”
The cost and availability of childcare can materially change the affordability and practicality of a home.
That’s why the real estate technology company Redfin has partnered with Winnie, the biggest U.S. marketplace for childcare and education.
Redfin unveiled this partnership on Aug. 17 and explained that homebuyers can now see childcare and early education options near the listed home they’re viewing on the Redfin website.
How the new childcare information helps homebuyers
Before this partnership, you could already see information for nearby schools on Redfin listings with data provided by the nonprofit GreatSchools. However, the data was limited to K-12 schooling.
With Winnie, you now also have access to preschools and daycares in the area.
This is especially useful for families with children in different age groups, or ones with young children who plan to stay in the home for a long time. You can now find information about childcare, preschool, and K-12 schools in the area.
“For parents and guardians, childcare can have a major impact on both the family budget and everyday routines,” wrote Redfin. “The cost and availability of care can vary dramatically from one community to another, meaning two similarly priced homes may come with very different financial and logistical tradeoffs.”
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Whether you’re looking for affordable daycare options or curious about nearby schools for your teenager should you move into a certain house, Redfin provides helpful information.
Specifically for childcare data through Winnie, you can see the name of the facility, the age group served, and the distance from the home.
By clicking on the school name, you’ll find the website, a description of the childcare provider, and any parent reviews. (There probably won’t be many parent reviews on Redfin yet, though, since this is a new feature.) You can also click “Check availability” to read more details on Winnie’s website.
The new Redfin childcare tool has its limitations, though
Redfin doesn’t display a specific tuition price directly in its listing. Depending on the provider, Winnie may show a price range, or you may need to contact the provider through the marketplace for tuition information.
Still, the feature helps you narrow down which schools are nearby, saving you time you would otherwise have spent hunting down this information on your own.
More on Buying a Home:
- How young adults are actually buying houses right now
- Fannie Mae condo shakeup could block your loan
- Realtor.com divulges crucial housing market shift
Childcare information is now available on Redfin’s desktop and mobile websites. It isn’t available on the app yet, but it will be in September, according to the Redfin press release.
A Redfin representative confirmed with TheStreet that childcare information is available on for-sale Redfin listings but not rental listings. This is a disadvantage for working families with young children who need childcare but are only renting.
Redfin tools help buyers understand what it’s really like to live in an area
Despite the new tool’s limitations, the breadth of information Redfin provides for each home sale listing is impressive. The platform gives buyers a general sense of what it’s like to actually live in an area — beyond what a house looks like or costs.
Along with the new childcare information through Winnie, Redfin sale listings include the following:
- Nearby schools: As previously mentioned, Redfin has teamed up with GreatSchools to provide information on nearby K-12 schools. This also includes GreatSchools ratings from 1 to 10.
- Transportation scores: Each listing includes a “Lifestyle” section, which rates the area’s walkability and bikeability, as well as how noisy or busy the neighborhood is. Redfin gets this data through its partnerships with Walk Score and Local Logic.
- Climate risk: Redfin works with First Street to evaluate the likelihood of a flood, wildfire, or severe winds reaching your house in the next 30 years. It also measures the probability of extreme heat or unhealthy air quality affecting the area this year and in the next 30 years.
- Historical weather: You can see the monthly historical temperature, precipitation, snowfall, humidity, and UV index from The Weather Company.
- Sun exposure: Redfin’s Sunscore is a rating out of 100 for how much natural sunlight the property receives over one year, according to data from Shadowmap.
