Homeowners Concerned with Natural Disasters

Highlights:

  • Homeowners are most concerned about floods, hurricanes, tornadoes and severe winter storms.
  • Urban dwellers are primarily concerned about floods, while suburban and rural homeowners are most concerned about tornadoes and severe winter storms.
  • More than three-quarters of recent homebuyers took natural disasters into account when choosing their home location.
  • The homeowners most concerned about the threat of natural disaster are recent buyers (75%), Millennials (72%), and urban homeowners (72%).
  • In the last 5 years, less than 10% of respondents have become less worried about the threat of natural disasters to homeownership.
  • 34% of homeowners have considered either proactively selling their home, moving or both due to concerns about natural disasters.
  • More than half of homeowners (68%) are prepared for a natural disaster specific to their area.
  • Homeowners consider bottled water, a generator, emergency food, and flashlights/batteries to be the most important household items to prepare ahead of the natural disaster season.

As natural disasters continue to leave wreckage in their wake worldwide, homeowners in high-risk zones are faced with tough decisions about how to keep themselves, their loved ones, and their homes safe. Realtor.com surveyed about 1,800 homeowners to better understand their levels of concern and preparedness for natural disasters. More than half of all respondents confirmed that they considered natural disasters when choosing their home location. Young homeowners, especially, took these potential disasters into account.

Location Choice

Floods, tornadoes and winter storms top the list of most concerning natural disasters to homeowners, garnering 35%, 39% and 38% of homeowners concerned, respectively. Notably, homeowners in urban areas tend to worry more about floods while suburban and rural homeowners are more concerned with tornadoes and severe winter storms.

Type of natural disaster most concerning

Younger Homeowners Most Concerned about Threat of Natural Disasters

A sizable 62% of homeowners are concerned about the threat of natural disasters to homeownership.  Recent buyers, Millennials, Gen X homeowners, and urban homeowners are relatively more concerned than the total survey pool.  Baby Boomers, the Silent Generation, and rural homeowners tend to be the least concerned, with about half answering that they are not concerned. 

Over the past 5 years, 47% of homeowners have become more concerned about natural disasters.  Notably, only 9% of homeowners have become less concerned over the last 5 years.  Mirroring the results above, recent buyers, Millennials, Gen X homeowners, and urban homeowners have the largest portion of respondents that have become more concerned over the last 5 years.

Most Millennial and Gen Z homeowners (60% and 58%, respectively) have considered either selling their home, moving or both in response to concerns around future natural disasters.  Interestingly, 69% of recent home buyers have also considered one or both options. 

Have you considered moving or selling your home ?

Homeowners Feel Prepared for Natural Disasters

Of the surveyed homeowners, 74% feel prepared for the natural disaster their area is susceptible to, including 77% of recent buyers who feel prepared.  The least prepared group of respondents was Gen Z, but still well over half (62%) of its members feel prepared.

Homeowners prepared for natural disaster

When asked what household items they have bought to prepare for the natural disaster season, respondents indicated that bottled water, a generator, emergency food, and a flashlight/batteries were the most important items they have purchased.  More than half (55%) of homeowners have purchased bottled water in preparation for a natural disaster, making it the most important item on the list according to the respondents. 

Natural disasters are on the list of concerns for homeowners, buyers and sellers alike, across generational and locale boundaries. Younger homeowners are understandably more concerned about the impact of increasingly frequent natural disasters, as their ownership horizon stretches out in front of them. Though homeowners cannot control the timing or intensity of these disasters, most are doing what they can to prepare themselves and their property.

 

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