This actually happened in the place I'm planning on snatching up. That is if the plumbing is reasonable and that the slab is winterized. It may have been that there just wasn't anyone living in the house at the time. I'll find out all of these things when I get it inspected.
I'd skip over a place like this normally, but it's bank owned at bottom dollar, and it's in move in condition.
The home owners invested over $300,000 in beutifying this home...look for it soon in Kitchen and Bath magazines.
The answer to the question is depends on location..location..location.
Broker, Affluent Choice
Many years ago I had a relative that lived in a patio community in Plymouth. As far as I know, none of the homes had basements, and it was a fairly large development.
If it's a home that is stuck in the middle of other homes with basements, it could be an issue. Minnesotans love their basements - especially in tornado season.
Sounds like you have a particular property in mind. Feel free to email me should you want to discuss this in more detail. Always good to have a second opinion.
Steele V. Propp
Certified Consumer Real Estate Consultant
"We do things a little bit different."
Bad idea? Not necessarily, if you like it and it meets your needs. It must be priced appropriately for todays market. To measure that, ensure you, or your agent if applicable, use comparables sales also without basements if at all possible.
That said, there are some advantages to having no basement. Lower heating bills, fewer water seepage issues and often slab homes have in-floor radiant heating which feels fabulous during long MN winters. And some Minnetonka homes have no basement because they are built next to wetlands which gives you a wonderful and private view of the natural environment.
It's all a matter of your priorities in housing choices. Good luck with your decision!