Lifestyle
5 At-Risk Home Types to Avoid in 2024’s Shifting Housing Market
By Jake Beardslee · March 5, 2024
Coastal Communities at Climate Risk: Higher Storms, Higher Prices
Homes located in disaster-prone coastal areas are facing increasing insurance costs and diminished demand as climate change makes these regions riskier. Without coverage or buyers, these properties' values will naturally decrease. Brian McGowan/Unsplash
Outdated Digs Lose Their Appeal
Dated properties without renovated kitchens or energy-efficient upgrades struggle to attract buyers looking for move-in ready homes. As preferences evolve, the value gap between updated and outdated homes will only grow. Tomoko Deguchi/Unsplash
Urban Luxury Blues
Once highly coveted for their downtown status, luxury condos are now seeing less demand as remote work takes hold. With fewer amenities to justify high prices, these properties' values will taper off. Chalo Garcia/Unsplash
Live Near Pollution, Pay the Price
Exposure to environmental hazards like industrial air pollution or traffic lowers home desirability, hitting values in these already vulnerable neighborhoods. Health and safety concerns steer buyers elsewhere. Aleksandr Popov/Unsplash
Too Many Oversized Homes
Baby boomers and retirees constructed sizable, lavish dream homes across the Sunbelt region over the past decades. However, these properties now have limited appeal among potential buyers, as the market's preferences have shifted away from such oversized residences in recent years. Nick Romanov/Unsplash