As climate change continues to worsen and there are more and more instances of natural disasters, first time home buyers are forced to take climate and extreme weather into more serious considerations when considering where to invest in their first home. Wildfires, hurricanes, and extreme snow are all beginning to occur more frequently than ever before. While climate change is affecting the entire world, there are some cities that are more prone to natural disasters than others.
As this is becoming an increasingly worrisome issue, more studies and research is being done on what cities are the safest liveable areas. Today, there are a record number of climate refugees, people who have been displaced due to losing their home as a result of a wildfire, a severe flood, or a destructive hurricane. People within the US have been moving further and further north to escape the multitude of climate-controlled issues.
“You want to be far enough inland to avoid the rising seas and flooding … far enough north to avoid the worst of the heat waves … far enough west and north to avoid the hurricanes … and far enough east to avoid the wildfires.” (CBSnews.com)
Generally, areas that are the least vulnerable to producing climate refugees are safe from hurricanes, sea-level rise, and wildfires. According to experts, the safest areas to live are ones that meet the criteria as well as have access to a large body of freshwater. Though these issues may not seem dire and pressing until they are actually happening, it is something that home buyers should take into consideration. Coastal cities and areas at risk of climate disasters see property value drop significantly.
Ontario is Safe from Many Natural Disasters
When thinking of purchasing a home in Canada, Ontario is one of the safest places in terms of natural disaster threats. Ontario is situated next to large bodies of fresh water, the ocean body bordering the north coast is a protected bay, and wildfires will likely never be a threat in the cool Canadian climate.
One study done on the resilience of cities to natural disasters and climate change has found that Ontario is an extremely resilient city. Because of the city's geographical position and its infrastructure, it makes a great city for first-time investors to consider when purchasing their first homes. When investing in your first home, it is important to think about the investment in the long term. While buying a home in a coastal city might seem like a beautiful idea, as sea levels rise and hurricanes become more frequent, it may cost you more than you bargained for in the loss of property value.
As long as you don’t forget how to shovel snow and dress for cold winters, Ontario will be a safe place in a world of uncertainty thanks to climate change. Avoid becoming a refugee and make a smart investment choice when purchasing your first home in Ontario.
Regalway Homes is the perfect choice for real estate investments in Ontario. Based in Milton, we have the experience and connections to help you make your first home investment. Get in touch today!
Regalway Homes | info@regalwayhomes.com | (905) 462 4960