An increasing number of homeowners are spending money on protecting their homes from climate threats, according to a new survey published by Redfin. The survey found that 58 percent of U.S. homeowners have invested in making their homes more resilient to climate threats, with nearly three-quarters of Florida homeowners reporting have spent money to protect their homes from climate risk.
Homeowners nationwide are most likely to invest in combating extreme heat, with roughly one-quarter (26 percent) saying they’ve spent money to make their home more resilient to this risk. Extreme cold (22 percent), flooding (16 percent), hurricane/tropical storms (14 percent), poor air quality (13 percent) and tornadoes (12 percent) were the next most-common threats homeowners invested protection against.
Particularly relevant in California, earthquakes and wildfires both came in at 11 percent.
“Americans are shelling out cash to fortify their homes against natural disasters as they increasingly move to at-risk areas despite intensifying climate change. Unfortunately, their investments aren’t always enough—a reality that came into focus when Hurricane Ian destroyed scores of homes, many of which lacked flood insurance,” said Redfin Chief Economist Daryl Fairweather. “Homeowners should be aware that their property value could drop over time if their area becomes uninsurable and/or uninhabitable due to climate change.”