The Fiber Effect: How Fiber Internet Can Boost Property Values
We’ve said it before, and we’ll say it again: the internet has become an essential part of modern life, and access to high-speed internet is increasingly important, especially in rural areas. High-speed Internet brings all kinds of upsides to connected communities, and one of the most interesting, yet little known, effects is broadband’s effect on property values. In fact, a recent study showed that fiber internet service can increase a home’s value by as much as 4.9%!
That’s right – a recent survey in 2023 conducted by the Fiber Broadband Association and RVA found that fiber internet service can increase a home’s value by up to 4.9%. Furthermore, this survey listed very-high speed, reliable internet service as the second-most desired amenity for a single-family home (the most-desired was a laundry room). Respondents to the survey even found reliable, high-speed internet to be more desirable than features such as a walk-in closet or a two-car garage!
Fiber is the Future
There are several reasons why the impact of fiber internet stretches as far as the value of your home. One of the primary benefits of fiber internet is its superiority to more traditional delivery methods. Fiber internet services can provide faster download and upload speeds than traditional copper-based or satellite internet services, making it easier to stream high-quality video, work from home, access telemedicine, provide increased independence for seniors, and communicate with others.
Attracting New Growth
Another reason fiber internet services are boosting property values is that they attract new residents and businesses. With access to high-speed internet, remote workers and small business owners can move to rural areas without sacrificing the connectivity they need to run their businesses. This can lead to an influx of new residents and businesses, which can, in turn, increase demand for properties in the area. Fiber internet also opens up a new range of tools, services, and tactics that a business can take advantage of or offer their customers, such as promoting themselves on social media, offering remote consultations, and much more.
Fiber Homes Stand Out
Finally, fiber internet services can provide a competitive advantage for rural properties that have these services available. In a crowded real estate market, properties with fiber internet services can stand out from the competition and attract more buyers. This can lead to higher property values and faster sales.
In conclusion, fiber internet can affect our communities in ways that go beyond connectivity. With their high-speed internet connectivity, ability to attract new residents and businesses, and competitive advantage in the real estate market, properties that offer fiber internet services are becoming more valuable – and at Cumberland Connect, we’re proud to help foster new growth in our local communities.
