Home Buying in New Jersey>Question Details

Kris, Home Buyer in New Jersey

Single family home without basement have less resale value in edison?

Asked by Kris, New Jersey Fri Jun 3, 2011

Am planning to buy a single family home in Edison but it has no basement,its a new construction. Am worried about resale value since it has no basement

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2
Kris,

Well yes it will cost less to purchase now, and will sell for less in the future compared to a house that has a basement, but this also applies to 3 bedrooms vs 4 bedrooms, or a garage vs no garage etc.
If also depends on where the house is located and how large the house is.
If you love the house, the area, and can afford it it's all going to be relative. Pay less now (lower mortgage) and sell for less later (compared to a house with a basement).
0 votes Thank Flag Link Sat Jun 4, 2011
Does anyone know what the value difference of basement or no basement could roughtly be. I'm upstate ny
Flag Wed Feb 20, 2013
you worries are fully warranted - house w/o basement will cost less. it costs you less even now, doesn't it? consider to buy a house with full basement
0 votes Thank Flag Link Fri Jun 3, 2011
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