You wouldn’t buy a property where you would have to go to great trouble and expense to get an adequate connection to the electricity, gas and water supply unless you fancied a hell of a challenge or have always wanted to live in Victorian Britain.
However, a much more modern utility you may not consider when buying property is broadband. In an era where you pay your bills, do your grocery shopping, listen to music, watch television and keep in touch with your nearest and dearest online, it is no longer a luxury.
As such, it is not surprising that a decent broadband connection is now considered more important than off-street parking and access to local amenities by homebuyers, according to a study carried out by broadband comparison site broadbandchoices.co.uk and property expert Henry Pryor.
Broadband and buying property
Most broadband is delivered via copper telephone wires, over which speed decreases as the distance increases, so the further away a property is from the local telephone exchange, the slower the broadband is likely to be. Fibre broadband lessens this problem significantly where it’s available.
Population density is also likely to have an impact on how many providers offer broadband in an area. The more people there are, the more providers will want to compete for their custom, which means greater choice and cheaper prices for said people.
As such it makes sense to check the broadband speeds and the range of providers available in an area before buying a property. Thankfully this can be done in seconds by comparing broadband deals in a postcode area using a comparison site like broadbandchoices.co.uk.
Broadband and selling a property
Viewing requests for properties listed online with broadband speeds were twice as high as those listed without in a first-of-its-kind trial conducted by broadbandchoices.co.uk.
Not only that, but around one in five of the 1,500 homebuyers surveyed nationwide as part of the study said they would be happy to pay more for a property with a fast broadband connection, with a third of those saying they would be willing to 2-5% more.
So, if you’re selling a property, conduct a speed test on its broadband connection to see if the speed is worth including when listing it. As a guide, the average home broadband download speed in the UK is 12Mb, while 3Mb-plus will mean most popular online activities can be performed adequately.
Written by Kelvin Goodson