As climate change escalates, potential homebuyers face crucial decisions driven by increasing risks. Experts advise examining two types of climate risks: 'climate shocks', referring to severe weather incidents like hurricanes and floods, and 'climate stresses', which impact local government spending on essential infrastructure. As disasters become more frequent, property taxes are expected to rise to fund necessary adaptations such as sea walls and storm pumps, all of which should influence homebuyers’ locations and choices.
When thinking through your home-buying decision, it's useful to think in terms of two categories of risk, according to experts on climate change and real estate.
The first category is what could be called climate shocks, which are extreme weather events like hurricanes and floods, becoming more frequent and intense.
The second category is climate stresses, where governments spend more on infrastructure, funded largely through property taxes that are rising due to climate impacts.
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