Increase the Value of Your Home With Fibre Optic Internet

According to telecommunications giant Telus, 39% of Canadians are willing to pay more to have a home in an area with top-of-the-line connectivity. That means a high-speed, large-capacity fibre-optic network. Of that 39% willing to pay more, 25% of those say they'd pay as much as $5,000 more, 13% indicate that they 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 undertook a $140-million project to provide super-fast Internet to every household in Kelowna and the area, including the other side of the lake in West Kelowna. What's this mean for real estate? People looking to maximize the value of their homes for sale in Kelowna have more to gain from fibre optics than extra-fast Wifi.

What Is Fibre Internet?

This method of delivering data sends information down a glass pipe, or sometimes plastic, coded in a light beam. It was discovered in the 1960s that this 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 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 Will Fibre Optics Improve Connectivity?

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 is glass wire and is capable of sending data down the line at 150 megabytes per second, making them significantly faster than outdated cables.

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 a more responsive Internet.

Fibre-optics is not only a great selling feature, but they also add to the economic impact in Kelowna by attracting business. Telus reports that the lion's share of the work has already been done, with more coming from Kelowna's multi-family developments and office buildings/business parks.

How Much Value Does Fibre Optic Connection Add to Your Home?

A 2015 study found a 3.1% addition to property values in homes with fibre optic connections. In terms of resale value, this simple addition contributes as much as some of the best high-ROI home improvements. The study looked at homes in the US connected to fibre optic infrastructure and compared their values to similar homes that did not have access to fibre. The results showed that, on average, homes with fibre optic connections were worth significantly more than those without.

Many things have changed since 2015, but one fact remains: people heavily rely on fast, secure internet connections at home. A fibre optic connection may make it easier to work from home, an increasingly popular option. As more and more services move online, having a fast and reliable internet connection is becoming increasingly important. Whatever the reason, it is clear that having a fibre optic connection can significantly boost your home's value.

Sell Your Home Faster With Faster Internet

Investing in fibre-optic internet is not only good for Internet speeds, but it's also excellent for property values. Homeowners with high-speed connections can expect to see their investment appreciate at a higher rate than those without the same level of connectivity. If you're looking to upgrade your home's value before starting the home selling process, consider switching to fibre optics.