A new survey shows that while 66 percent of U.S. homes have experienced weather-related damage, only one-third of homeowners have made improvements to safeguard their properties, according to Leaf Home and Morning Consult.

The home improvement company worked with Morning Consult to survey 2,203 homeowners in the United States between Aug. 1, 2024, and Aug. 9, 2024.

The survey found that owners faced significant out-of-pocket expenses for extreme weather damage, with many paying $5,000 or more.

Of the respondents surveyed, 46 percent of homeowners were only somewhat or not at all prepared to cover the costs of damage.

Major damage (over $15k) resulted in payouts of just 14 percent, according to the homeowners.

Fear of rising insurance costs due to extreme weather has impacted 62 percent of homeowners, with nearly a third reportedly experiencing premium hikes.

While 51 percent of homeowners have shown increased interest in weather-related home improvements, only one-third have acted.

Interior paint jobs and flooring updates are homeowners’ top priorities.

The survey found the high costs and prioritizing cosmetic updates are the main barriers to weather-proofing homes.

The survey also found that 73 percent of homebuyers are willing to pay more for weather-proofed homes, while 53 percent of sellers increased their home’s value by making weather-related improvements.

“Homes are more vulnerable than ever to the damaging effects of extreme weather, and the financial consequences can be severe. The increasing unpredictability of weather is a wakeup call for homeowners to protect their homes and wallets,” said Rocco Mango, interim CEO of Leaf Home. “By investing in essential upgrades, homeowners can safeguard their property while increasing home value in the long term.”

The study also examines housing market trends and how regional factors influence homeowner perceptions of extreme weather. To view the full report, please visit: https://www.leafhome.com/2024-extreme-weather-report-homeowner-perceptions-and-the-impact-on-homes/.