Natural Disasters A Big Factor When Deciding To Buy A House

Increasing extreme weather conditions this summer means you may have to think more about being prepared for changing weather conditions. Knowing whether or not your home lies within an area that is prone to flooding is important information that you need to consider before you make a purchase as big as a new home. There is always a certain amount of risk when you choose where to live and there are things you can do to make sure that you have your bases covered before you choose to buy a property. Home insurance, with the addition of certain policies, can be purchased to protect your home in the event of a natural disaster and you should always carry the best policy that you can so that you are protected.

 

After a recent realtor.com survey asked homeowners it was found that as many as 75% of respondents took natural disaster probability into the decision of purchasing their current property. That’s quite a high number! The survey also broke down which disasters were most concerning. Tornados at 39% were of the highest concern while other disasters such as flooding, hurricanes, earthquakes, wildfires, and others also made people consider the circumstances of their choice. It is also of note that 33% have considered their current home with a new lens and have thought of moving in order to avoid certain natural disasters.

 

Doing your own due diligence work when it comes to purchasing a property can only benefit you in the long run. You do not want to be surprised by high insurance premiums that come with carrying insurance in disaster prone areas or not being able to qualify for insurance at all. Mortgage rates and availability of loans may also be impacted if the company finds out negative data concerning the property.

 

While each natural disaster has its issues, flooding has made a substantial impact in areas that people had recently thought were relatively safe from such activity. This could be because they were unaware of the risk or it just was not expected. Knowing this information before you purchase a house can greatly affect your decision. Realtor.com recently decided to add information to their listings to help home buyers have what they need in regards to flood info. They make multiple resources available so that the consumer can investigate their home or their future home. You can find that information here. Knowing whether your home is located in a flood plain or not should be a factor you consider before making any huge decisions.

 

Coming up soon in September is National Preparedness Month and you should use this time to evaluate how prepared you are to handle whatever Mother Nature can throw at us. By heading to ready.gov/september you will be able to find information on how to make plans for certain events and how to update these plans in the times of COVID-19. How to build disaster specific kits can be an important resource in times of crisis. Also, communicating to your family about these plans will greatly improve your ability to navigate through any disaster that may be thrown your way. 

 

If you are fortunate you may never have to make use of your home insurance policy or deal with damage to your home but the odds are at some point in the life of your 30 year mortgage you will be a victim of such an event. When looking for a home though you have to take in all the information you can to make the most informed decision available. To make this decision easier please make sure that you are using the knowledge of your real estate agent to help guide you through the process.