Weigh climate considerations before purchasing that home

Housing markets have been getting impacted by the phenomenon

- LARA WILLIAMS

There’s lots to consider when buying a house: Is it in a good location? Does it have enough storage? How new is the kitchen? But there’s one vitally important question which should be at the heart of any property hunt: How will this home fare in the climate-crisis era?

There’s a growing awareness among realtors that climate is fast becoming a bigger consideration in property investment. Mike Holden, divisional director of growth at property data business Landmark Information Group, tells me there’s a generational divide, with younger people more attuned to climate risks while oldsters are still willing to pay a premium for drafty inefficient homes provided they tick the rest of the buyer’s boxes.

There are financial benefits to including climate in a property buying decision, whether that’s keeping insurance premiums and energy costs down, avoiding costly repairs or maintaining resale value. As the next generation starts getting on the property ladder, sustainability is likely to have a growing impact on prices.