How Home Renovations Can Protect You from Natural Hazards
April 25, 2023
April 25, 2023
When severe weather strikes, your home and your wallet may take a hit if you don’t have the proper safeguards in place. Taking proactive steps to minimize damage and expenses can help you bounce back quickly and maintain financial peace of mind should a hazard impact your home.
Making upgrades to protect your home from natural hazards can be expensive, but the protection they provide can be invaluable. Fortunately, there are options available that can help finance the costs of making renovations to your home. With the right information, you can take action that protects your property and your family from natural disasters.
Understanding which hazards pose the greatest risk to your property is key to informing which safety upgrades you’ll need to make to protect it. A simple online search of your area’s disaster history can help you determine if your home is at an increased risk of a natural disaster.
Once you have a better understanding of which hazards may affect your home, you should consider making adjustments to your insurance coverage and look into specific home improvement projects that can help protect your home from damage.
The Federal Emergency Management Agency provides informational brochures to help you assess which hazards could impact your home, and identify relevant safety upgrades that can strengthen your home’s defense against them:
Making safety upgrades to protect your home from hazards is a worthwhile investment that helps maintain your family’s safety and your home’s value. Depending on the scope and scale of the renovations you decide to make, you may consider taking out a loan to cover the cost. There are a variety of refinance products available that allow you to leverage your home’s value to fund large- and small-scale renovations — this includes products such as Freddie Mac’s CHOICERenovation® and CHOICEReno eXPress® mortgages.
Talk to your lender to understand your options and find the right financing option for you.