Apr 12, 2022 | Home Technology

Meeting the needs of today’s buyers

Of the many features new homeowners seek – overall square footage, location, school district, neighborhood, modern kitchen and bath, etc. – one that builders could easily benefit from is the type of internet connection. Is it cable, DSL, satellite, or fiber optic? High-speed internet connection matters to modern home buyers. And it can mean a higher selling price for builders.

While it is easy to view a home’s internet connection as just another utility, along with electricity and gas service, online technology has undergone a significant transformation just like telephone service has experienced over the past few years, with consumers expecting more than ever before. Just as a standard landline telephone may no longer meet the needs of most homeowners who are now more dependent on cell phones for everyday use, there is just as much, if not more, demand for a high-speed internet connection. Legacy copper internet systems cannot keep up with the required bandwidth due to streaming services, video conferences, and the ever-growing popularity of online video gameplay. They simply lack the bandwidth and speed.

As a result, new home builders are turning to fiber optic internet to solve this growing problem. And they are seeing the value of adding fiber optic infrastructure into new neighborhoods during construction.

Unlike legacy copper cable internet, DSL, or satellite, fiber optics offer more bandwidth, higher speeds, improved reliability, and more consistent service.

Higher overall value

Buyers are willing to pay a little extra when they see added value in an amenity, whether it’s a fancier bathroom, great back deck, upgraded appliances, or the latest tech gadget. For example, studies have revealed that adding high-speed internet to a home can increase its value by as much as 3%.

While that may not sound like much, a $300,000 home could sell for $9,000 more just by adding high-speed internet.

With the increasing popularity of smart homes, internet connectivity is more critical than ever. Many buyers want to connect their homes with the Internet of Things so they can control appliances and other household items remotely to save time, improve security, and become more energy efficient. These devices, such as video doorbells, self-programming thermostats, mesh networks, automated appliances, and smart televisions, depend on fast, reliable internet to run smoothly. Building these capabilities into a new home can improve the overall value of the home and increase its selling price.

Sell it faster

It's an old real estate axiom: the longer a house sits on the market, the lower the eventual selling price. The more value buyers see in a home, the faster it sells. When fiber optic internet is offered, more buyers will likely be interested in the home because they see it as a feature that, while growing in popularity, is not offered in many new homes yet.

Offering high-speed fiber optic internet can increase the value and selling price of the home. It can also reduce the time on the market by making the home more attractive overall. This simple addition can speed up the selling process, reducing days on the market and increasing the selling price.

If you build it, they will connect

Many homebuilders partner with their local fiber internet provider during the design and construction phases of new homes and neighborhoods so fiber-optic lines can be installed during the buildout phase rather than adding it after construction is complete. This smart arrangement benefits the builder, buyer, and service provider.

To the service provider, it makes installing the mainline conduit throughout the neighborhood easier because it can go in right along with other utilities before sod and landscaping are added, reducing construction costs.

Adding fiber internet to an existing home can often require the pedestal to be placed near the street in front because of how difficult (or in some cases impossible) it is to get behind the house with the installation equipment after the home is built.

However, in some cases, building the fiber network during construction can allow the pedestal to be installed behind the home rather than in front, depending on local regulations, effectively hiding it from view and making the property more attractive to potential buyers.

For the new homeowner, installing the fiber during construction rather than after also means it can be run into the home before the buyer takes possession and eliminates the need to dig a trench later and tear up a brand-new lawn.

It’s not just another utility

Electricity, gas, high-speed internet. These are the basics that today’s home buyers need. Thanks to the increase in work- and school-from-home, a boatload of streaming services, and multiple devices online simultaneously in the average household, high-speed internet is no longer a luxury. It’s a necessity.

Offer your buyers what they want by incorporating fiber-optic internet into your construction plans.