Climate change is increasingly influencing the locations where homebuyers are choosing to purchase properties, as highlighted by the specialists at the National Association of Realtors (NAR).

““Sixty-three percent of people who have moved since the pandemic began say they believe climate change is—or will be—an issue in the place they currently live.”
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— National Association of Realtors (NAR)

When planning a move, it's important to take climate change into account, regardless of your location. A new study from Realtor.com sheds light on the increasing influence of climate change on the real estate market.

To ensure your investment is protected from the elements, it's important to consider weather-resistant materials and proper maintenance.

To begin, collaborate with a local real estate agent to assess the chances of your prospective residence being impacted by elements such as wind, floods, and wildfires. Your agent is familiar with the region and can inform you about the potential risks you might encounter.

When considering buying a home, it's essential to weigh two key aspects: the caliber of the property you're interested in and the insurance necessary to safeguard it.

A Home Built to Last

If you're intending to stay in your home for an extended period, it's crucial to ensure its long-term durability. Collaborating with your real estate agent to verify that the property you're purchasing is resilient against environmental threats is a proactive approach. Real estate agents are well-informed about prevalent construction and renovation practices that can safeguard homes against climate change impacts, such as installing a secondary water barrier on the roof or utilizing noncombustible, fire-resistant exterior walls.

Insurance To Protect It

When you're sure the house you're eyeing is constructed well, the next thing to do is figure out what you'll need for insurance. According to Selma Hepp, Chief Economist at CoreLogic:

““. . . homeowners are going to become increasingly more aware of risks of living in some areas as it becomes prohibitively expensive or very difficult to obtain hazard insurance.”
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— Selma Hepp, Chief Economist at CoreLogic

In regions where climate hazards are more significant, having suitable home insurance can be extremely beneficial. The cost of this insurance is a crucial aspect to consider when planning your budget for purchasing and safeguarding your home. It is recommended to obtain an insurance quote early on as you might wish to evaluate several quotes, a process that could take a few weeks.

While it may seem overwhelming to think about all of these factors, rest assured that a real estate agent can assist you. Your agent will serve as your main source of guidance throughout the homebuying journey, providing insights on what to look out for, considerations to keep in mind, and even how climate change could impact your future residence. Through effective planning and the invaluable advice of a skilled agent, you can successfully navigate this process. The benefits of homeownership are indeed significant, and with a reliable agent supporting you, you can ensure that the home you choose aligns perfectly with your needs.

Bottom Line

When purchasing a home, it's crucial to consider the impact of climate change. Your home is a significant investment, and being prepared for potential effects is essential. Let's discuss further to help you discover the ideal home for your needs.