What’s Your Area’s Stance on 5G?
September 1, 2019 by Marty Orefice | News, Real Estate
The communities we choose to live in have large-scale impacts on our quality of life – even inside of our homes when we're not interacting with people from the community! Something you probably aren't thinking about when you move into a new area: internet speeds.
Sure, you can by the top of the line, but you're limited to what's offered in your area. Your town may have but one internet provider that everyone is stuck with using. Or, a more recent issue, your city says “No, thanks” to 5G WiFi speeds.
Many people don't know the difference between 50 Mbps and 100 Mbps. And the difference between 3G, 4G, 5G and LTE isn't important. But, for others, having access to the cutting edge of new technology is a priority. Earlier this week, LinkedIn featured this discussion in its trending section.
The Federal Communications Commission (FCC) chairman Ajit Pai says that 5G will play a critical role in “winning the race with China,” but many cities across the country are blocking 5G due to the rules the FCC put in place. These new rules mandate how, when and how much local governments need to spend to implement a 5G rollout, according to the Wall Street Journal. Local government officials do not like the strict policies they'd need to follow to make 5G a reality.
Some politicians have cited concerns over what the towers will do to property values and the health of the people within the community. However, the World Health Organization deemed the dangers behind 5G radio-frequency are comparable to coffee and pickles (i.e. possibly carcinogenic).
How to Buy in the Right Area
You can anticipate how governments in your desired area will react to 5G – as the issue is currently playing out in the media. However, you can't predict how they'll react to technological advances in the future.
Whether you're in favor or against 5G, you may want to get to know your community and the legislators who make decisions for it before you lock in a mortgage that will last you a decade or longer.
How can you ensure that you're moving into the right community without actually living in the community?
Short of interviewing your neighbors or moving to a community you've already lived in, it's tough. Rent to own offers you the opportunity to live in a community for a lease term of your choosing in a house you can see yourself purchasing without actually purchasing the home.
At the end of your lease term (or whenever you're ready), you can stay in the home that you've settled into and buy the property. Taking all of the hassles out of renting one place and then moving into another one. Additionally, you're not committed to the full length of the lease term. As soon as you're ready to buy, you can, whether that's three months or three years into your term.
More so, you can walk away from the property should you decide your neighbors and legislators don't align with what you want from a community. There's no commitment to purchase the home, you just lose the option fee that you invested, which gave you the first option of purchasing the home throughout the lease term.
Rent to own is truly the best strategy for determining whether a community is the right fit for you.
