How Do Climate Risks Affect Your Next Home in Philadelphia & The Main Line?

How Do Climate Risks Affect Your Next Home Purchase in Philadelphia and the Main Line Suburbs?

Climate change is increasingly influencing where people choose to buy homes, and the Philadelphia and Main Line suburbs are no exception. As the experts at the National Association of Realtors (NAR) explain:

“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.”

If you’re planning to move within the Philadelphia or Main Line areas, considering climate change is essential. A recent study from Realtor.com highlights the growing impact of climate change on real estate decisions.

How Can You Ensure Your Investment Is Safe from Climate Risks?

Work with a Local Real Estate Agent Partnering with a knowledgeable local real estate agent is crucial to understanding the specific climate risks your future home may face, such as wind, floods, and wildfires. Your agent will have in-depth knowledge of the Philadelphia and Main Line areas and can provide insights into the potential hazards you might encounter.

Consider the Quality of the Home If you plan to stay in your home for many years, ensuring it is built to withstand environmental hazards is vital. Collaborate with your real estate agent to find homes that incorporate resilient building techniques, such as secondary water barriers on roofs or fire-resistant exterior walls. If the home you're interested in lacks certain features, your agent can help negotiate necessary upgrades or outline future work.

Insurance to Protect Your Home Once you’re confident in the home's construction, the next step is securing appropriate insurance. Selma Hepp, Chief Economist at CoreLogic, notes:

“. . . 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.”

In areas where climate risks are prevalent, the right home insurance can significantly impact your budget and the overall cost of homeownership. Obtain insurance quotes early in the home-buying process to compare options and ensure adequate coverage.

Bottom Line

Climate change is a crucial consideration when buying a home in the Philadelphia and Main Line areas. Your home is a significant investment, and being prepared for potential climate impacts is essential. Let’s connect to find the perfect home that fits your needs and is resilient against climate risks. With the right planning and expert advice from a trusted real estate agent, you can confidently navigate the home-buying process.

Contact us today to discuss your options and find a home that’s ready for the future.

Phone(267) 626-7613

Email[email protected]

Address Reid Rosenthal & The Rosenthal Group
Berkshire Hathaway Home Services Fox & Roach REALTORS
112 S 19th Street Suite 200
Philadelphia, PA 19103

Post a Comment