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How Extreme Weather Impacts Your Home Costs and Ways to Safeguard Your Investment

 5-MINUTE READ  February 21, 2024


Owning a home is more than just paying your mortgage every month; it's about taking care of your investment. Nowadays, because of changes in the environment, it's getting more expensive to keep a home in good shape. A survey by Bankrate shows that 81 percent of adults in the U.S. have had to spend more money in the last ten years because of weather problems. Let's look at how these changes can make your home costs go up and find ways to protect your investment.

1. The Alarming Rise in Damaging Floods

Floods didn't used to happen in many places, mostly just near the coasts. But now, they're popping up in unexpected areas. Loretta Worters, who works at the Insurance Information Institute, says floods aren't only happening on the East and Gulf Coasts. Recent events like Hurricane Ida in 2021 and floods in eastern Kentucky in 2022 show that we need to plan better for these disasters.

Floods are just one part of the problem. A survey by Bankrate says most people think higher energy costs are the main reason their home expenses are going up. Also, 57 percent of Americans believe their money will be affected in a bad way over the next ten years because of climate change and unpredictable weather.

2. The Toll on Homeownership Expenses

Bad weather doesn't just damage your home; it can also make your repair bills really high. According to a report by Bankrate in 2023, more than half of Americans don't feel good about the money they have saved for emergencies. Surprisingly, 22 percent don't have any emergency savings at all. This leaves homeowners in a tough spot when unexpected costs pop up, like after hailstorms or blizzards.

It's super important to know that damage from extreme weather, or even the fear of it happening, can affect how much your home is worth. When you're trying to sell, people might not want to buy if they worry about big weather problems.

3. The Impact on Utility Bills: Rising Temperatures, Rising Costs

When the temperatures go up, your electric bills do too. Take Nevada, for example, where people are used to a hot desert climate. In July 2023, Las Vegas hit a new record for scorching heat, making it the hottest month ever recorded by the National Weather Service. The thermometer reached at least 110 degrees on 17 days, and everyone had to use their air conditioning a lot more.

This isn't just happening in Nevada. Data from the National Oceanic and Atmospheric Administration shows that 28 states had the top 10 warmest first halves of the year. Even in Florida, where it's always warm, they experienced their hottest January-July period ever. The lesson is simple: no matter where you live, get ready for higher cooling costs when the heat goes up.

4. Changing Weather, Changing Costs: Insurance Challenges

Crazy weather linked to climate change is making homeowners face higher insurance costs, especially in places like hurricane-prone Louisiana. Bankrate data shows that in these areas, the average homeowners' insurance cost is nearly 40 percent more than the national average.

If you live near the coast or in flood-prone zones, insurance can be even more expensive. Regular homeowners' insurance usually doesn't cover flood damage, so you might need an additional policy specifically for floods to stay protected.

5. Repair Costs: Navigating the Aftermath of Extreme Weather

In the unfortunate event of significant weather-related damage, homeowners should brace themselves for substantial repair costs. For instance, removing a fallen tree after a storm can cost up to $2,000, according to Angi. HomeAdvisor data shows that cleaning up a flooded basement can run as high as $15,000. The aftermath of hail and wind damage can result in even costlier repairs.

Keeping Your Home Safe from Wild Weather: Simple Steps for You

Taking care of your home is super important to keep it safe and save you money. Vishwas Prabhakara says, "Doing things to prevent problems is really important." If you live in the Southern states, it's a good idea to check your HVAC system in the spring. This way, you can find and fix issues before it gets really hot. And if you're in an area where strong winds are common, make sure the outside of your home is clear of stuff. Clean your gutters regularly, make sure drains are clear, and trim plants that might cause problems during windy weather. Doing these things can help protect your home from extreme weather.


As weird weather happens more often, homeowners need to be ready to protect their homes and money. It's important to know how extreme weather can affect how much your home is worth and get ready for higher bills and insurance costs. Staying informed is super important.

Doing simple things to take care of your home, like checking for problems and cleaning up, gives you the power to protect your investment. This helps you avoid extra money troubles when the weather gets crazy. So, be alert, be prepared, and make a promise to keep your home safe from the unpredictable challenges of weather.

Contact Loan Factory today for expert guidance and personalized advice!

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