Natural Disasters Now Factor Into Where Homebuyers Want to Live

When choosing a place to live, more than 3 out of 4 recent home buyers surveyed in July took the threat of natural disasters into account, per CoreLogic.

The concern about losing or having their property damaged by flood, wildfire, or severe storm was strong enough that about one-third of the 3,000 home owners surveyed are considering selling their home, moving, or both to avoid a potential disaster in the future.

Overall, about 62% of homebuyers, not just recent ones, are worried about the threat of natural disasters. The fear of flooding was more common in urban areas while tornadoes, extreme cold, and winter storms were more anxiety-producing for those in rural and suburban communities.
Nearly half of survey respondents, 47%, are more worried than they were five years ago as many of the disasters have become more frequent and severe.

“It’s really good to see homeowners wanting to know more about the risks of their homes. The risk is invisible,” says Tom Larsen, a principal of industry solutions at real estate data firm CoreLogic. When you purchase your home in a pretty neighborhood you may not be aware of the catastrophic dangers. “Everything has some risk. There is no risk-free home.”

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