Climate change and global warming can affect the real estate market in several ways, and it may influence your decision to purchase a home. One of the most significant impacts is the increased risk of flooding, which can make some properties less desirable or uninsurable. The rising sea levels and extreme weather events associated with climate change also increase the risk of coastal properties being damaged or destroyed. Additionally, as temperatures continue to rise, the demand for homes in cooler regions may increase, leading to changes in housing prices and construction patterns. It could also affect the insurance and mortgage rates, a higher risk of natural disasters could mean home buyers would need to pay more for insurance, or that mortgages on certain homes will be harder to obtain.
Possible impacts to a home's infrastructure could include:
Tom Schlotter, licensed home inspector.