Consider the Weather Patterns
Here in NYC, after much preparation, we fared pretty well with Hurricane Irene.Â It's the first time in my lifetime that I remember evacuations of parts of the city or the entire transportation system being closed down.
After Katrina, officials here in NYC drew up plans for how to handle such an emergency, should it ever occur here. Of course our circumstances are different, as New Orleans is below sea level and has a system of levys, but there are some low-lying areas in NYC in NJ.Â
What is the lesson here that is applicable to real estate?Â Know the risks regarding weather patterns for the area you are thinking of buying in. Know what weather hazards are likely, and how likely they are.Â Know what kinds of outcomes are possible.Â Some people want to be on the beach no matter what.Â They should know the risks to that area.Â If there are maps of where greater risks are vs. perhaps being close by but in a safer zone, maybe that's something you want to consider. This is applicable to buying anywhere in the country.