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How internet coverage influences home buyers

A few years ago the availability of internet cover in a certain area would not even be a consideration for home buyers, but as we move towards a more connected world and lifestyle, this has become a more important feature of a home.



We recently asked our followers on Twitter, whether or not internet coverage plays a role in their home buying process and a staggering 85% of those that took part in the poll indicated that it did play a role.

A 2014 study by University of Wisconsin at Whitewater found access to the Internet could add $11,815 to the value of a $439,000 vacation house in Door County, Wisconsin. And while the study focused on American real estate it is safe to assume that it won’t be long before similar effects will be seen in Southern African homes.

This sentiment was reflected by a 2016 survey conducted in the UK, where it was revealed that for many young home buyers a reliable internet connection was more important than an extra bedroom. Hyperoptic, the company that conducted the survey said that of the 3,000 people polled most indicated that fast internet connections were now on top of their priorities when looking for a new home.

The study furthermore indicated that almost 70 per cent of people now check their broadband speed before moving home - up 8 per cent from a similar study in 2015.
 
The reason behind this is the fact that with our more connected society, more and more people are foregoing the traditional 9-5 work lifestyle for one that is more centered around working remotely, even if it is only once a week.

Added to this is the entertainment options available online, and for the younger generation home buyer a steady and fast connection could help them decide whether or not they should invest in a property.

Estate agents would do well to list fast internet connections such as fiber-to-home in their property descriptions if they are looking to sell or rent their properties to the millennial buyers.

Curious about your internet speed? Test your connection

 



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