Fiber internet can do a lot for you and your family. You may already know that it enables you to do more in less time, but did you know that it can also add value to your home?
We all know the basic factors that contribute to a home’s value. Like size and layout, the location, and its age and condition. But did you know that your internet connection is also an important factor? Many buyers consider a home’s internet options and will pay more for a home with fiber internet. Some even argue that fiber connectivity is even more important to buyers than location.
In a recent study, researchers at the University of Colorado and Carnegie Mellon University studied about half a million home sales from 2011 to 2013. They investigated the relationship between broadband connections, such as fiber, and house prices. They found that access to fiber internet added 3.1% to the value of a home. The median home value used in the study was $175,000. The 3.1% increase would be an additional $5,437 to the median value. That is equal to adding a full fireplace or a half bathroom.
A more recent study was conducted in 2014 by the Fiber To The Home (FTTH) Council. They found that there was a higher per capita GDP (gross domestic product) in communities where gigabit internet was available. They also found that homes sold for 7% more if they had access to 1 gigabit broadband. If you like, you can read more about the two studies here.
Fiber internet doesn’t just benefit your home, it’s great for communities too. Areas that have access to fiber are more attractive to businesses, especially tech companies where high-speed internet is a must. More businesses = more jobs, which leads to a better economy. A community like this will be attractive to house hunters.