A home’s value is not only influenced by the property itself but also by the environment in which it sits. Did you know that your home’s value might be affected by the speed of your broadband speed? The broadband speed of your home will have a big impact on the price you can get for it when you decide to sell. Read more.
What is Broadband Speed?
Broadband speed is measured in ‘Mbit/s’ which is a commonly-used unit to express the speed at which data can be transferred to and from the Internet. It has been reported that more than half of the world’s homes have broadband speeds of less than 5Mbit/s, and less than a quarter has broadband speeds higher than 10Mbit/s. For example, those with broadband speeds lower than 5Mbit/s have a lower chance of getting a loan, and those with broadband speeds lower than 10Mbit/s are more likely to be unemployed and to live below the poverty level.
How fast your broadband connection determines how well you can do, from streaming video to uploading photos to the web-and that’s a big part of why broadband speed is the most important part of a modern home. At the most basic level, broadband internet access lets you do more of the things you want to do with your home. But these days, the speed of your connection is a big part of the value of your home.
How Can Broadband Speed Affect the House Value?
It’s common knowledge that broadband speeds are higher in rural areas than they are in urban areas. But how exactly do our broadband speeds affect house prices? Upstart Internet company FIO (Fiber Internet Opportunities) conducted a study to find out. FIO surveyed nearly 100,000 homes in the U.S. and provided broadband price information for each city. They then compared the cost of broadband in each city with the average selling price for homes in that city. The results are a little surprising.
A quick Google search for “broadband speed” reveals that residential broadband internet speeds in the United States are much slower than advertised, with many providers offering speeds of up to 10Mbps and others offering speeds of up to 1Gbps.
It’s no secret that broadband is an important infrastructure for homes. It’s increasingly becoming an integral part of what it means to be a modern consumer, and if you live in one of the nearly one in three American homes that don’t have broadband, you’re probably feeling left out. So it’s no wonder that houses in areas that have better internet speeds have more value. Now, as a homeowner, this probably won’t matter much to you if you’re simply trying to sell your house for cash and move out fast. But, it does matter to other buyers and sellers who want to make a standard deal, which is a good chunk of homeowners and homebuyers in this country. That’s why the Federal Communications Commission recently voted to raise the minimum broadband speed that all U.S. homes will need to access to 25 Mbps by the end of 2018.
What Should You Do to Improve The Broadband Speed In Your House?
If you live within the same street or very close to one, you’ll probably get the best broadband speed in your street. And if you’re lucky enough to live in a house, your broadband speed may be lower because of the walls of your house. Should you wish to find out exactly what your broadband speed is, you could use a site like test my speed to find out how fast your connection is. If your broadband speed is slow in your house, you may want to run an Ethernet cable from your router to another room in your house, as long as there’s enough bandwidth left to reach your router in the first place. Then, you’ll have to see if a signal booster will help.
The same might not hold true, though, if you intend to sell your home to a potential investor who might be interested in purchasing it as a sole investment. Still, it may definitely leave a good impression on the home buyers who might be eager to purchase your property, claiming that – in atlanta we buy houses. Therefore, having a high-speed broadband connection in your home that you are about to sell may in some or the other way attract real estate investment companies and potential home buyers.
Broadband speeds are everything these days. As the digital revolution gets into full swing and technology spreads, the need for more bandwidth is becoming more and more apparent. Whether you’re watching Netflix or sending emails, you need fast and reliable access to the Internet. To have that, you need to choose a reliable internet provider. Make sure that you do thorough research (from https://www.compareinternet.com/tx/dallas/ or similar webpages pertaining to your area) and choose the one that delivers better results.
We should understand that…
Most people assume that faster broadband speeds must mean higher house prices. But new research from the Guildford-based think tank, IPPR, found that the relationship is not as simple as that. The report, entitled ‘Fast Broadband: The Complex Relationship Between Internet Speed and Property Prices,’ looked at broadband speed’s effect on the price of residential properties. The research found that the link between broadband speed and house price is more complicated than it first appears and is likely to be influenced by several factors. Many other factors influence the value of homes, such as location, type of house, and its condition.
Over the years, broadband speeds have become faster and faster, but are there any definitive ways that the speed of your internet connection impacts your house value? After all, a faster connection doesn’t help you sell your house faster if you don’t improve your property’s appeal.
