Location is just one of many factors often considered when determining the overall value and appeal of a home. There are some 21st century perks that can also play a role in the real estate value of homes today.
One of these is fiber-optic internet. It’s an investment that can pay off for you now and for anyone who may be interested in your home in the future if you opt to sell and move. It’s also an amenity new buyers looking for homes often prefer, which could make homes without reliable internet connections of this nature less appealing. Read on as we further explore the link between fiber internet and the real estate value of homes today.
So, Why Is Fiber Internet More In-Demand Now?
Cable internet can provide decent speeds, but there are some inherent issues associated with broadband cable. For one thing, there’s a noticeable gap between download and upload speeds with cable that’s not a significant issue with fiber-optic connections. Because of the increased reliability of fiber-optic connections, it’s a type of internet that gained popularity during the pandemic. Even now, it’s increasingly common for residential internet users to need faster speeds and better reliability. Part of the reason is because of how many devices are used in an average home today, which can also include “smart” things like TVs, thermostats, and appliances. Fiber also tends to make it easier to perform a variety of tasks online, including:
• Online learning
• Work-based tasks performed remotely
• Online gaming
• Downloading and uploading files
• Streaming content from your favorite streaming services
What’s the Potential Impact on Home Value?
According to a 2015 study, having a fiber internet connection could boost the value of a home by a little bit more than 3 percent. This may not seem like it’s all that much, but it’s equal to somewhere between around $9,000 and as much as $300,000 per home, depending on the total value of the home. To give you some perspective, this is roughly the same boost in the real estate value of a home that can be enjoyed with the addition of a half-bath or fireplace.
Just How Does Fiber Internet Add Value to Homes?
It’s the benefits associated with fiber internet that make a valuable asset for a home these days. Yes, it’s always possible for a new homebuyer to have fiber internet added after they move in. However, a home is more appealing if this service is already available and accessible. It’s kind of similar to why many hotels today offer free wireless internet or Wi-Fi internet connections to guests. In other words, it’s an added feature that naturally fits in with common preferences and needs. In addition to download and upload speeds that are roughly the same, fiber internet comes with benefits that include:
• Impressive speed capabilities up to 940 Mbps (megabytes per second)
• Low lag time
• Less susceptibility to weather issues
• No throttling
• Not affected by power outages since fiber optic lines aren’t energized
• Data transfer that’s up to 1,000 times faster than copper cable
• No radiating signals – which makes it practically impossible to hack
What about Accessibility?
It’s not as hard you may think to add fiber optic internet to your home. In fact, many providers have been working hard in recent years to bring fiber connections to more communities throughout the United States. What this means for many homeowners, including ones looking to sell, is that the odds of having access to a local fiber provider are much better today. It’s also worth noting the cost of fiber internet has also been going down steadily as accessibility increases.
You don’t necessarily need to have fiber internet to boost the value of your home. That said, it’s an improvement that’s fairly easy to make as opposed to, say, having the bathroom redone. So, it’s an option to consider. Even if you don’t yet have plans to leave the home you’re in now, making the switch to fiber comes with many perks anyone in your household right now should definitely appreciate.