CONSIDERING CLIMATE RISKS IN HOME BUYING
From an increase in natural disasters to hotter summers and colder winters, climate change has hit homeowners from coast to coast and is becoming an increasingly important factor in home purchase decisions. Both first-time homebuyers and retiring homeowners who are downsizing said they considered climate change factors such as green building materials, location, floodplains, and local disaster mitigation plans when making their final decisions.
When considering where to buy your home, it’s important to recognize the area’s resilience to climate change, its risk of natural disasters, and what the local government is doing to minimize the risks and protect neighborhoods.
Although all areas are facing some sort of risk, understanding the risks in each region will help homebuyers make informed decisions and plan for the future.
FACTS TO CONSIDER
Cities in the Southwest are at high risk for extreme heat, drought, and severe storms.
With continued increasing temperatures, within a few decades, parts of the Midwest may feel more like the Southwest, with warmer temperatures, drier summers, and less snow than residents are used to.
Forested areas and grasslands face increased risk of droughts and wildfires.
Coastal locations have an extremely high propensity for flooding, extreme heat, and hurricanes, and related damage.
From an increase in damage from natural disasters to more wear and tear as our seasons become more extreme, there are multiple ways climate change threatens homes. If climate change is teaching us anything, it’s that knowing the risks that confront your region will help you to prepare for the changes our climate will be experiencing in the years to come.
Action Plan
Find the safest areas in each region by using tools like FEMA’s Flood Map or this Fire and Smoke map.
Research state and local emergency management and climate mitigation plans.
Compare available homeowners policies and premiums to ensure your new home purchase is protected.
