With the cost of homeownership skyrocketing and extreme weather on the rise, it's increasingly important to know if homes are financially and physically resilient.
Housing affordability is a nationwide concern for homeowners. Rising costs across insurance, taxes, and utilities are creating serious financial strain. These rising costs are alarming enough, but when combined with the increasing threat of severe weather events, like the recent snowstorm in Portland, Oregon, that left 132,000 people without power for over a week, risks are leading homeowners to question if they're properly prepared.
The 2024 Atlantic Hurricane forecast released by Colorado State predicts that this will be a record year for named hurricanes, with an estimated 23 storms expected, including 11 hurricanes and five category 3 or higher storms. That could drive insurance costs even higher. These concerns are weighing heavily on all homeowners.
Inflation Reduction Act (IRA) incentives are available per household for projects like heat pump upgrades, insulation improvements, and solar installations, potentially saving homeowners thousands per year on utility costs. These upgrades, while requiring some upfront investment, can significantly reduce the ongoing cost of homeownership. Learn more about IRA tax credits HERE.