Nearly two-thirds of Americans (65%) worry that natural disasters will increase in frequency and severity in their area, and only 7% believe their homes are fully prepared for a disaster.
Over two-thirds of Americans (68%) believe homeownership is riskier now than it was 10 years ago due to climate change and natural disasters, according to a new report from Clever Offers, a platform owned by Clever Real Estate that allows home sellers on tight timelines to explore their selling options.
Nearly 7 in 10 homeowners (69%) say they took disaster risk into account when buying their home, while almost half of non-homeowners (46%) say climate change has made them rethink the practicality of buying a home someday.
61% of homeowners fear a natural disaster could destroy their home, and 48% worry they may have to relocate at some point due to climate risks.
Just over a quarter of homeowners (26%) feel confident their homes are safe from future climate threats, while 1 in 10 (11%) admit they’re not confident in their understanding of local climate risks.
About a third of non-homeowners (35%) say they’ve ruled out a place to live due to climate or disaster risks. Most commonly, Americans would avoid buying a home in California (40%), Florida (36%), and Texas (21%) and are most concerned about tornadoes (31%), wildfires (26%), and hurricanes (16%).
Two-thirds of Americans (74%) would pay more for a home protected from local climate threats, and 63% would pay a premium to live in a low-risk area.
Still, 1 in 3 Americans (35%) would consider buying a home in a high-risk area, and 48% say a steep discount could convince them.
Nearly half of Americans (46%) say buyers who select high-risk areas deserve long-term financial fallout — and 39% say no discount is worth the risk of living in a risky area.
As Americans brace for what the future may hold, 30% expect a shortage of “climate-safe” areas within the next 10 years.
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