You know how natural disasters are becoming more and more common these days? Well, turns out they're causing some major problems in the residential real estate market. I was just reading this interesting article from CoreLogic that explains everything.

““As the specter of climate change looms large, the world braces for unprecedented challenges. In the world of real estate, one of those challenges will be the effects of natural catastrophes on property portfolios, homeowners, and communities.””

— Quote Source

It seems like nowadays, a lot of Americans are starting to take into account how climate risks and natural disasters might affect their plans of owning a home. At least that's what Zillow has found.

This study found that climate risks actually play a big role in where people are searching for a place to call home. You see, folks nowadays don't just want to find a nice house, they also wanna make sure that their dream home won't be in the line of fire (pun intended) when it comes to floods, scorching heatwaves, or raging wildfires.

If you're in the same boat and wondering what to do next, I've got some crucial info for you to keep in mind while you begin your search for a home.

Expert Advice for Homebuyers To Reduce Climate Risks

If you're thinking about buying a home while considering climate risks, the first step is to understand how to approach it. But don't worry, with the right help and resources, we can make the process easier for you.

The Mortgage Reports provides these tips for buying your next home:

• Evaluate climate risks: Before buying a home, it's important to check if it's in a flood-prone area using the FEMA website, review the seller's property disclosure for any past damage, and get an inspection for issues like cracks and mold to make sure it's a safe investment.

• Consider future preventative maintenance costs: For areas that get tropical storms, you may need to purchase hurricane shutters and sandbags to protect the home. In wildfire-prone areas, you may want to clear plants five feet from the house, consider rooftop sprinklers, or possibly buy gutter guards to prevent fire hazards. Factor these future expenses in when touring homes that may need them.

• Take steps to avoid losing your assets: Getting the right insurance for a home in a high-risk climate area is crucial. You should shop around and talk to multiple insurance agents to compare prices and options before deciding to bid on a home.

When it comes to buying or selling a home, having a trusted real estate expert by your side is key. They'll always have your best interests at heart and make sure to address any worries or questions you may have. While they may not have all the knowledge about how your home can withstand natural disasters, they can help you find the right professionals and resources to get the information you need. So, trust your real estate expert to guide you through the process and connect you with the right people who can help.

Bottom Line

If you're looking to buy a home and you're also concerned about climate risks, don't worry, you're not alone. Your home is a major investment, and it's important to consider anything that could affect it. Reach out to me, and I'll be your trustworthy guide in finding your next home.