Ryan Kent has been jailed for 10 years after raiding the house in the Featherstone area, near Wolverhampton, just after 1am on October 4 last year.
The 26-year-old entered the property and threatened the occupants – a woman in her 70s and her teenage grandson – with a machete.
The woman and her grandson had been watching TV when Kent burst in waving the machete and demanding "give me the money," Stafford Crown Court was told.
Jewellery and other items were stuffed into a pillow case, before the offenders ran off.
He made off in a Honda Jazz car, which was seen by police being driven away from the scene at speed. The car then crashed and the offenders ran away, but Kent was tracked by a police dog and found hiding under a car on a private driveway in Cannock Road.
Officers searched beneath the car and found £390 in cash and jewellery – including nine rings – which had been stolen during the burglary. When Kent was arrested, he was also found to be in possession of cocaine and cannabis.
Police had suspected that more than one person was involved in the raid but Kent is the only person to have been charged.
Kent, of no fixed address but formerly of Walsall, was sentenced to 10 years and eight months in jail after pleading guilty to robbery – and 12 months to be served concurrently for possession of a bladed article.
Detective Sergeant Steve Windridge of Staffordshire Police said: “This was a violent robbery and a terrifying experience for the victims and their family.
"I am grateful for and praise the great courage and bravery that was shown by them during this case."
He added: “I am glad that Kent has received a significant sentence for his actions that morning and I am relieved that no one came to serious harm.”