According to telecommunications giant Telus, 39% of Canadians are willing to pay more money to have a home in an area that has high connectivity. That means a high-speed, large capacity fibre-optic network.
So by having fibre-optic connections in your home and neighbourhood, your current home could possibly have increased in value by $5,000 to as much as $10,000.
To break that down further, of that 39% willing to pay more, 25% of those say they’d pay as much as $5,000 more, 13% indicate that would possibly pay as much as $10,000 more and 6% of those say they’d go up to $10,000 more for a house in a neighbourhood with fibre-optic service.
Armed with those statistics, Telus says that it’s putting the finishing touches on a $140-million project to provide super-fast Internet to every household in Kelowna and area, including the other side of the lake in West Kelowna.
What is fibre-optics?
This method of delivering data is sending information down a glass pipe, or sometimes plastic, that is coded in a light beam. It was discovered in the 1960s that this type of technology could transmit a phone call at the speed of light which is 300,000 km a second.
A fibre-optic cable is comprised of almost hair-like strands of glass which are called optical fibres. Each strand actually is only one-tenth the size of a strand of human hair and sometimes even thinner. One strand is said to support 25,000 telephone calls so imagine if a whole cable full of strands is activated – the phone calls would be in the millions.
How fibre-optic technology improves Internet
That job involves taking old the current copper lines which are aging and only capable of slow speeds of 25 megabytes a second and replacing them with fibre-optics which basically is glass wire and are capable of sending data down the line at 150 megabytes per second which is 600% faster.
To translate for the average user, that means that anything you do online can be done in ultra-high definition smoothly and quickly, whether it’s on a Smart TV, laptop, desktop, smartphone or any other wireless device. With so much online content being delivered via streaming video, including movies on web-based providers like Netflix, faster speeds are not only required, they’re necessary. Gamers also demand more responsive Internet.
Fibre-optics is not only a great selling feature, they add to the economic impact in Kelowna by attracting business. Updates will at some point in the near future have gigabit capacity which is so out there in terms of data volume that consumers, businesses and government can’t even comprehend what that means.
Telus reports that a lion’s share of the work has already been done with more to come in Kelowna’s multi-family developments and office buildings/business parks.
So far, Telus has not disclosed what share of the market it has in Kelowna and across the lake in West Kelowna. But safe to say it’s huge and Telus really is the only telecommunications provider with fibre-optics and has the obvious advantage with cable, Internet and phone services in-home and mobile.
On the business side, Telus now offers tremendous capacity for corporate needs, education solutions and technology for medical purposes.
Telus did release the budget for upgrades it’s doing throughout B.C. which began in 2000 and due to be completed in 2019. The figure is $51 billion.
Those who have not chosen Telus as a technology provider but want fibre-optics to add value to the worth of their home will have some serious thinking to do in the next few years.