Is It Worth the Cost? When given the option to create a standard-built structure or to add reinforcements, the latter will always cost more. The question quickly becomes whether the additional costs are worth it. Of course you want your home or outbuilding to be protected, but is it a good investment? Yes, if you can afford it. Creating resilient structures typically means better insurance rates, a higher home value, and peace of mind. Plus, it could save your home, a lot of hassle, and potentially your life. We asked Dr. Hausler about her thoughts on the topic and she replied, “It depends greatly upon the starting point—the condition of the existing home. In 2022, Build Change released a study called “The Cost of Improving Vulnerable Housing” based on our international experience [see buildchange.org/ resources/cost-of-improving-housing] In that study, we found that it is much less expensive to strengthen a building to withstand disaster, compared to rebuilding after. This is especially important in markets without property insurance coverage. The average cost of retrofitting homes in our international markets to withstand earthquakes and hurricanes is 23% of the cost of building new.”
Unfortunately, costs can run high for creating resilient structures. Sometimes it’s a low-cost investment, such as adding storm shutters. Other times, an upgrade is simply out of reach for most homeowners. While there are some grant and rebate programs for specific situations, homeowners are mostly on their own when it comes to funding home upgrades. Dr. Hausler agrees, emphasizing, “I wish there were more government and insurance rebates that could be passed directly to the homeowner. Build Change has successfully advocated for such incentives and subsidies in our international programming, such as in Colombia, where the government at various levels - from city-level to national-level - has made available hundreds of millions of dollars for homeowners to strengthen their homes against earthquakes while making other improvements to water, sanitation, and security.” She continues, “In the US, insurance companies should be more proactive about creating incentives for policyholders to retrofit and protect their homes before disaster strikes. They should make it easier and more affordable for homeowners to rebuild a stronger, more resilient home after a loss, and give policy rebates for taking preventive measures. The insurance industry could replicate the incentives they provide to good drivers for proactive homeowners.”
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