Remodeled kitchens, updated bathrooms, energy-efficient appliances. It’s no secret that all of these add value to a home. But here’s a surprise: so does high-speed internet.
According to a recent study, having fiber-optic connections raises the price of a home significantly.
The Wall Street Journal recently reported on a study by researchers at the University of Colorado and Carnegie Mellon University. The study compared more than 525,000 home sales between 2011 and 2013, evaluating government records to assess the type of Internet access that was available at the time.
The findings: fiber-optic connections — the fastest type of high-speed internet available — added $5,437 to the price of a $175,000 home.
“The impact with internet speeds and home sales often are found to be most significant in rural areas where internet speeds tend to show more fluctuations,” noted the article.
The Wall Street Journal also cites a 2014 study by the University of Wisconsin at Whitewater that found similar results regarding the significance of the internet. Access to the internet, researchers found, added as much as $11,815 to the value of a $439,000 vacation home in Door County, Wisconsin.
Meanwhile, further research has proven the dollar value of various other factors, including mature trees in the yard, parks and golf courses nearby, and neighborhoods with restaurants, shops, schools and parks within walking distance.
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