Home Buying in 30519>Question Details

gracekim0623, Home Buyer in Suwanee, GA

I am trying to build a new home, and am debating whether or not to put a basement in.

Asked by gracekim0623, Suwanee, GA Mon Jun 10, 2013

The home is the biggest and most expensive floor plan available in the subdivision, so adding a basement will definitely make it even more expensive. Is it true that building the most expensive floor plan (making it one of the most expensive homes) will make it more difficult to sell in the future?

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13
I would recommend adding a basement. When you have the opportunity to build a custom home, this is an easy way to add a lot of square footage. You can't build the home and then add a basement later on. It all depends on what you want, though.

Claire Reynolds || http://www.iqconstruction.biz/about-us/
0 votes Thank Flag Link Thu Aug 7, 2014
I have heard that before also but it's not always true. When we were building our house we had a hard time deciding which roofing to put on it. My wife really liked the roofing material that costed the most. We worried about making the house more expensive for a future buyer but it ended up being a good investment for us.
Web Reference: http://www.gbsroofing.com
0 votes Thank Flag Link Tue Aug 5, 2014
You only get one opportunity to add a basement. This is the least expensive way to nearly double your under roof SF. If the lot allows good water diversion, you should add the basement. I have yet to encounter the human being that could not find uses for additional square feet. Basement with ground level exit will prove exceptionally useful.

More difficult to resell? Predictions regarding the future are difficult.
Here is what you do know.
1. Prices in communities under construction are controlled by the builder.
2. When the last house is built everyone's values have the opportunity to increase.
3. A like kind house valued 20% above community values will be difficult to sell. (Unless it possess extraordinary attributes. A basement is not a extraordinary attribute)

In five to eight years, what will be the values in your community. A project a basement with ground lever entry will prove to be a distinguishing asset and compel value a the top of the community range with all else being equal.
0 votes Thank Flag Link Tue Aug 5, 2014
Another thing is the soil type. Here in the Raleigh area, there is a lot of red clay which is not good for digging basements. Only basement lots you see here are when the lot drops off allowing for a sunlight basement. I grew up on Long Island where its was all sand and good soils. Basements were common and always provided a great place for us as kids to play . I would encourage a basement, especially if you have it finished off as extra space. Good luck!!
0 votes Thank Flag Link Tue Aug 5, 2014
If you decide to go with a basement, make sure you go to the county and do whatever is necessary. Because you may get a better price if you decide to sell it later.
0 votes Thank Flag Link Fri Oct 25, 2013
It depends on the type of subdivision you are considering when it comes to cost effectiveness...if you are looking at purchasing a custom built or luxury home I would say it is worth considering the basement as bigger is better is the general mindset that future buyers will have...otherwise I feel that it will become an issue of your utilizing the basement as finished space or storage...talk with your realtor to help you with the decision.

Chuck
Web Reference: http://chuckgreen.com
0 votes Thank Flag Link Tue Jun 11, 2013
You really could benefit by having a buyers agent with many years of experience.
I would have to look at the entire subdivision and area to best answer your question.
I have been selling new construction for 15 years full time in Gwinnett.

Free Buyes Agent

Isabel Elsesser, Realtor
First United Realty
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0 votes Thank Flag Link Tue Jun 11, 2013
Your lot will determine if you should have a slab, craw or basement. A home will cost between $10-20K more for a basement. If it is a slab lot do not try to "force" a basement. A crawl space costs almost as much as a basement.. You will need to choose your property first. As a selling agent on new for many years and resales I definatly would recommend you do a basement. You can sell a lot faster, especially in a down market.. You will recoup that money. You can save on bells and whistles and add those later. If it is a large home if there is areas that can be finished later leave it for now. Upstairs and hard to get to areas have it stocked with sheet rock.(dry wall). Usually the electrician will charge just peanuts to wire that area. Use for storage until you can get to that project of finishing off. Worked great for me. Codes and other things may come into play.. give me your # and I will call you for further advice. bscyphrs@aol.com Re/Max Town and Country.
0 votes Thank Flag Link Tue Jun 11, 2013
You have some good answers already, but I'll add a bit. As far as living there, a basement does not yield a good return on investment. They are less useful in warmer environments such as Georgia where you have less worry about pipes freezing. On the other hand, they can give some rather inexpensive storage space, if that is something that you need. They'd be less attractive to me the greater their likelihood is of being wet or flooded. If many of the neighboring homes do not have them, that may tell you two things: that they don't work well in that locality and that they may not enhance the resale value of your home. And vice versa.
0 votes Thank Flag Link Tue Jun 11, 2013
Hello, yes it is true that being the biggest and most expensive home in the neighborhood can cause serious resale issues in the future. However, basements are "popular" so if you are in a good location and well sought after area you may be okay. If you have already began, build "your" home that you are happy about and if you cannot sell anytime soon at least you are living in the home you built just the way you wanted it to be.

You really needed to have a Realtor representing you. The builder would have paid their commission and you would have had free legal and market advice at your finger tips! Here is a link to read a new construction blog that I wrote concerning new construction buyers: http://amiebozeman.com/blog.php?view=item&id=4674. I think the blog may have helped you during your decision making process.

If you need further advice please let me know.

Best Wishes!
Amie Bozeman, Realtor
Greater Atlanta
770-855-5590
Http://amiebozeman.com
Http://Facebook.com/amiebozemanrealtor
Http://twitter.com/amiebozeman
0 votes Thank Flag Link Tue Jun 11, 2013
First, what does your Agent/Broker advise? What is your price point before adding the basement, gracekim0623? If $15K is 10% of the purchase price as opposed to 3%, for example, could make a huge difference in one's answer. Please call, text or email if we can provide further assistance. Good Luck!

Michael Hammond
SellsRealty@gmail.com
404-538-5499

http://www.georgiamls.com/agentsite/index.cfm?SiteID=HAMMONDJOHNM

http://www.chapmanhallprofessionals.com

http://www.SellsRealty.org

http://www.city-data.com/

http://www.greatschools.org/
0 votes Thank Flag Link Tue Jun 11, 2013
I believe that there hasn't been any flooding in the area. However,the houses on that same row all have basements which makes me to go back and forth regarding getting the basement. With the basement the home will be about $15k more than the average cost of homes on that row.
0 votes Thank Flag Link Mon Jun 10, 2013
what's the history of flooding in the surrounding area??? or are you only concerned about the cost???

from a ROI point of view, it's not a good idea to have a home that far exceed the surrounding homes.
0 votes Thank Flag Link Mon Jun 10, 2013
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