For many of us, we already know how important a fast, stable internet connection is in our own homes. Whether you’ll use it for your remote work, online classes, or simply for communication and entertainment, having access to high-speed internet is becoming one of the essential things home buyers look for when purchasing a home.
So, if you’re planning to sell your property sooner or later, you should keep on reading to discover how high-speed internet boosts your poverty value and everything around it. Let’s begin!
Understanding High-speed Internet Technology and Its Effect on Your Property Value
A lot has changed since a decade ago, especially with the technology we have right now. Many people have a lot of gadgets and smart devices, which all require an internet connection to work. If your home is located in the middle of the city or around it, you will probably have access to fiber internet, which is what many people are looking for right now because it is not yet widely available in the United States. If you have this type of internet in your home, your real estate value can go up as much as if you purchased and installed a new bathtub or fireplace.
On the other hand, if you live in a remote area, it’s likely that you will only have satellite internet as your best option. While it was known to be extremely slow, the technological advancements from satellite internet providers have led to a significant increase in terms of speed and reliability. So, you can still make something out of your satellite internet even though it’s not as fast and glorified as fiber internet.
Why Home Buyers Look for Properties with High-Speed Internet
While many factors are considered before buying a home, such as size, location, accessibility, and more, most property buyers are now also considering the internet when buying a property. This is because of the rise of remote work, distance learning, telemedicine, and more. We’re way past the time when the internet is considered a luxury than a necessity.
According to research conducted by the National Association of Realtors, the average sales price of single-family homes with high-speed Internet access (25 Mbps) was $5,977 higher than the median sales price of homes with low-speed Internet access (1 Mbps).
Additionally, if the internet speed in a house were too slow, 72.1% of respondents would not even consider buying the house, while just 22.8% would try to negotiate a lower price. The lack of internet connectivity in a home is on par with living in a home without running water or electricity, one respondent states.
Advantages of Having High-speed Internet
Of course, aside from the fast internet boosting your property value, you can also enjoy a lot of advantages with high-speed internet.
Fast Downloading and Uploading
If you have a decent internet plan from a dependable wireless provider, you can enjoy fast download and upload speeds. This means you can quickly download or upload large files without waiting for many hours. It also works when you upload photos and videos on your social media accounts, like YouTube, Facebook, and Instagram.
No Long Wait Times
It can be pretty annoying to wait a few minutes when searching for something on the web, especially if you’re doing research for a work presentation or a school project. With high-speed internet, all you need is one click, and the page will load quickly.
Seamless Video Conferences
Video conferencing has never been more common, especially when the pandemic hit. Fortunately, with a fast, stable internet connection, you don’t have to deal with lags and disconnections. You can participate in and hold virtual meetings, classes, webinars, and more with ease.
Uninterrupted Streaming
Streaming your favorite TV shows on Netflix or other streaming platforms can be frustrating if all you’re watching is the endless buffering on your screen. Having a high-speed wireless internet connection allows you to binge on movies and TV series without lowered-quality videos and buffering.
Final Thoughts
If you’re planning to sell your home any time soon, we recommend you check if fiber internet is available in your area and have it installed in your home to significantly boost its value. Moreover, you can also enjoy its benefits while you still own your property.
