Purchasing a home is a significant milestone and cornerstone of the “American dream.” It’s a place to rest and relax, raise a family, and secure a long-term financial investment. As climate change becomes a more tangible reality, the home buying process is shifting, especially here in the Southeast. A recent Zillow survey found that 80 percent of prospective home buyers consider climate risks when shopping for a home. Their concern is fair: a National Bureau of Economic Research paper indicates that floodplain homes in the U.S. are vastly overvalued by $34 billion.
In response to these consumer concerns, Zillow partnered with First Street, a climate modeling company. By the end of this year, Zillow will feature a climate risk score on for-sale property listings. This information details flood, wildfire, wind, heat, and air quality risks as well as historical data on past climate events at the property. A color-coded, interactive map and tailored insurance requirements enhance the risk assessment, offering a unique tool for your homebuying process.
South Carolina is susceptible to extreme heat and flooding. The Southern Environmental Law Center’s interactive map shows nearly 210,000 homes in flood risk areas. To mitigate further life and property losses from extreme weather events, last year the South Carolina Office of Resilience published their inaugural Resilience Plan with recommendations for statewide investments, programs, and policies.
As South Carolinians, there are proactive measures we can take to protect our property.
Around our neighborhoods, we can ensure surface storm drains are clear of litter, leaves, and twigs. Rain barrels and rain gardens are also effective stormwater management techniques, capturing pollutants, reducing runoff, and minimizing localized flooding.
Prioritizing the construction of new roads and highways over the repair and maintenance of existing infrastructure can exacerbate flood risk by disrupting natural drainage and increasing standing water; voting against such construction, which is proposed in the Horry and Charleston sales tax referendum this November, is crucial for flood prevention.
Burying power lines is an expensive task; however, the alternative is downed power lines during major storms, which can cause property damage and prolonged electricity outages. Protecting our communities from the impacts of climate change is a shared responsibility, involving neighbors, government officials, and other community stakeholders.