In hot real estate market homebuyers prioritize 5G & high-speed internet

Rhea-AI Summary

Verizon's New Study reveals that 90% of homebuyers prioritize fast, reliable home internet and good cellular service over traditional factors like school proximity and commute time. The survey shows that nearly 80% of buyers believe 5G technology enhances a home's value. Following the pandemic, 73% of prospective buyers require 5G more at home than on the go. Realtors have noted an increased demand for information on broadband and cellular access, with 69% seeking broadband details.

Positive

• 90% of homebuyers prioritize fast home internet and good cellular service.
• 77% of buyers say access to 5G home internet increases home value.
• Realtors report a rising inquiry about broadband access (69%) among clients.

Negative

• None.

Study says homebuyers rank quality internet connectivity ahead of school proximity, commute time, and modern appliances

Link to Homebuyers Study

Highlights:

• According to new study, 90% of homebuyers prioritize fast reliable home internet and good cellular service when looking for a home.
• Nearly 8-in-10 homebuyers say 5G home internet makes a home more valuable.
• Three-quarters of U.S. homebuyers say they need 5G technology even more when at home than when on the go.
• Two-thirds of realtors say their clients more frequently sought information about access to broadband home internet (69%) and cellular service (66%) over the past year than before the pandemic.

BASKING RIDGE, N.J., May 11, 2021 (GLOBE NEWSWIRE) -- Verizon today released findings of a new study detailing U.S. homebuyers’ connectivity preferences following a turbulent year of remote working and learning. The study, conducted in partnership with Morning Consult, found that access to high-speed home internet and fast, reliable cell service at home is a must-have for homebuyers. Nearly 8-in-10 American homebuyers surveyed believe 5G home internet and access to a 5G cell network increased a home’s value. With two of America's most awarded networks, Verizon home internet has a variety of options built for where you live, such as Fios Home Internet and LTE Home Internet. Plus, 5G Home Internet is available in more and more areas.

“Reliable connectivity at home and on the go is more important than ever, as evidenced by its influence over what homebuyers look for in a home,” said Ronan Dunne, Verizon Consumer Group CEO. “In addition to our continued build of our 5G mobile network, our commitment to bring 5G Home Internet to 50 million households by 2025 delivers on the excitement Americans feel for the 5G future."

Fast cell service & home internet is a must have for homebuyers. In fact, 90% of prospective homebuyers say it is important that their new home have fast home internet and good cellular service. That makes connectivity a higher priority for homebuyers than proximity to good schools (64%), commute time (66%), modern appliances (86%), or nearby attractions and amenities (85%).

Pandemic Impact

• Prospective homebuyers say the coronavirus pandemic has made fast, reliable cellular (80%) and home (85%) internet service more important in their search for a home.
• Nearly three-quarters (73%) of prospective buyers say that given their need for bandwidth at home, they need 5G more at home than they do on the go.
• Two-thirds of realtors say their clients more frequently sought information about access to broadband home internet (69%) and cellular service (66%) over the past year than before the pandemic.
  

5G can boost home values

The overwhelming majority of those shopping for a home say access to 5G home internet (77%) and 5G cell network (75%) make a home more valuable. Realtors agree that home values are positively impacted by access to 5G home internet (75%) and 5G cell network (73%).

Homebuyers express excitement about 5G benefits including higher internet speed (90%), enhanced security (88%), simpler home internet setup (85%), more coverage in more places (84%), uninterrupted streaming (83%) and higher quality video calls (82%).

Verizon home internet offerings

Fios is currently available in several key metro areas in the northeast providing ultra-low lag home internet on the 100% fiber-optic network, which is up to 25 times faster than cable including fast upload speeds that are a close match to its download speeds. Verizon 5G Home Internet offers a wireless internet connection over our 5G Ultra Wideband network with ultra-fast speeds up to 1GB and is available in parts of 33 markets.* LTE Home Internet, a broadband connection over Verizon’s 4G LTE Network, is available to customers in 189 markets in 48 states. To help close the digital divide, affordable programs such as the Emergency Broadband Benefit and Fios Forward, help qualifying customers maintain connectivity with Verizon home internet.

Perks that go along with high-speed internet

For new homebuyers in a Fios market, for a limited time when you upgrade to Fios Gigabit Connection, our fastest internet, you’ll also get an Echo 4th Gen and Ring Stick-Up Camera, the latest in Amazon smart home devices, on us. New 5G Home customers get a Samsung Chromebook 4 on us so they can work, learn, and stream smarter right from home.** Customers who switch to LTE Home Internet will get $100 of their bill.***
To find out what internet option is available at your address, visit verizon.com/home/.
        
Survey of U.S. homebuyers was conducted by Morning Consult on behalf of Verizon between April 1 – April 7, 2021 among a national sample of 1000 US adults who plan to buy a single-family home in the next 3 years and live in a current or future 5G Home market. The interviews were conducted online. Results from the full survey have a margin of error of plus or minus 3 percentage points.

Survey of real estate professionals This poll was conducted by Morning Consult on behalf of Verizon between April 1 – April 12, 2021 among a national sample of 250 real estate agents and brokers who operate in a current or future 5G Home market. The interviews were conducted online. Results from the full survey have a margin of error of plus or minus 6 percentage points.

*Max download speeds up to 1 Gbps, with typical download speeds of 300 Mbps. Typical upload speeds around 50 Mbps. Depending on location, uploads over 5G Ultra Wideband or 4G LTE. 4G LTE backup.

**Offer avail. 4/22/21 – 7/21/21 via redemption code for a Samsung Chromebook 4 11.6” (4GB RAM). Must install and maintain qualifying 5G Home Internet services in good standing for 45 days to redeem. Thereafter, Verizon will email redemption instructions. Must redeem code w/in 60 days after delivery of email or by no later than 11/21/21, whichever is first. Not redeemable or refundable for cash. Samsung is a registered trademark of Samsung Electronics Co., Ltd.

***Offer valid thru 6.23.21 for new LTE Home customers. One-time $100 bill credit applied 14 days after service activation.

Verizon Communications Inc. (NYSE, Nasdaq: VZ) was formed on June 30, 2000 and is one of the world’s leading providers of technology, communications, information and entertainment products and services. Headquartered in New York City and with a presence around the world, Verizon generated revenues of $128.3 billion in 2020. The company offers data, video and voice services and solutions on its award-winning networks and platforms, delivering on customers’ demand for mobility, reliable network connectivity, security and control.

VERIZON’S ONLINE MEDIA CENTER: News releases, stories, media contacts and other resources are available at verizon.com/news. News releases are also available through an RSS feed. To subscribe, visit www.verizon.com/about/rss-feeds/.

Media contacts:
David Weissmann
david.weissmann@verizon.com
917.359.7215
@djweissmann

Alex Lawson
alex.lawson@verizon.com
908-635-0271
@ALawnC

FAQ

What did Verizon's recent study reveal about homebuyers' preferences?

Verizon's study showed that 90% of homebuyers prioritize fast, reliable internet and cellular service over other factors.

How important is 5G technology to homebuyers according to Verizon's study?

Nearly 80% of prospective homebuyers believe 5G technology increases a home's value.

What percentage of realtors have noticed increased inquiries about broadband access?

Approximately 69% of realtors reported a rise in client inquiries about broadband access over the past year.

How has the pandemic impacted homebuyers' views on internet and cellular services?

The pandemic has made fast, reliable cellular (80%) and home (85%) internet services more crucial for prospective homebuyers.