Home Buying in East Meadow>Question Details

Dmanu, Home Buyer in Williston Park, NY

is a house withOUT a basement a bad investment ?

Asked by Dmanu, Williston Park, NY Thu Jan 8, 2009

I really like one house but scared to commit because of possibility of re-sale. I heard from a lot of people that they wouldn't even look at a house without a basement. Chances of re-sale lost?

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Dmanu,Your spot on,always think resale.2sty or ranch gets a little better if 2000 sqft and up.Or if you like it that much and plan on retireing,might help.otherwise look at what you like so much,above ground,and try to match one w/basemt.Good huntin.

TJ
Web Reference: http://tjroberts.remax.com
1 vote Thank Flag Link Thu Jan 8, 2009
That's not true. A basement's function is generally for storage, housing the
heating units. It is not an upgrade to be able to have a basement or
have living space in a basement ( because of lack of windows).
A house is worth more if the areas you will be doing your everyday living,
is not in the basement. And most houses have two car garages and attic space for
storage purposes.
I hope this answered your question.


Camille Dandola
4 votes Thank Flag Link Thu Jan 8, 2009
Dmanu, if I had to do it again, I would NOT purchase a house with a basement. It ends up being a storage bin (even if finished) of things that should have been tossed; it's a place to have leaks; it is most often not used.
3 votes Thank Flag Link Fri Jan 9, 2009
Dmanu: If you're looking on Long Island, many buyers do want homes with basements. However, just because a house doesn't have a basement does not mean it is a "bad investment." It really depends on what you pay for the house that makes a difference. You should take a look at the MLS and see what the difference is in price between let's say a 3 Bedroom, 2 Bath house with a basement versus one without. You should be working with a buyer's agent that can represent your interests and assist in negotiating on your behalf rather than merely taking an offer and presenting it. I would be happy to help you. Good luck.

Ralph Windschuh
Century 21 Princeton Properties
Certified Buyer Representative
Senior Real Estate Specialist
Associate Broker
631-467-0009
rwindschuh@c21princetonproperties.com
3 votes Thank Flag Link Thu Jan 8, 2009
A house without a basement is common depending on where you live. Some communities have most of the homes in without basements, due to a mulitiplicity of factors like who built it, where its located, when it was built, type of home. You have to look at it this way, if you are interested...what is the reason? Is it a good place for you? If it is, chances are it will be a good place for someone else (but not necessarily everyone, as we all have different tastes).
A key question does it compare to other houses in the neighborhood? Do other have basements, do all have basements, do some? Is the price reflective of it having no basement, while others do?
Take all this in consideration, and when it comes time to make a decision hire a realtor to ask the questions that I have thrown out there, a good realtor will give you the answers to help in your decision process, if this is a good home for you.

Good Luck

Michael Prescott, Real Estate Pro
RE/MAX Innovation
Serving Blackstone Valley and Worcester Counties
http://www.michaelprescott.relocationma.com
mprescott@relocationma.com

check out my blog at http://www.activerain.com/groups/blackstonevalley_real_estate
Web Reference: http://www.virtualhomes.com
3 votes Thank Flag Link Thu Jan 8, 2009
If you like the house, the location, and will be happy there go for it; there are plenty of people who don't care about basements. Stop listening to others opinion and go with your gut.

Anna
917-576-5376
abrocco@laffey.com
1 vote Thank Flag Link Thu Jun 4, 2009
There are many fine homes without basements. The good news is that you will accumulate less "stuff" if you do not have a basement. Many consumers now like the idea of having the laundry on the second floor because it is easier that taking your laundry down stairs to wash and
1 vote Thank Flag Link Wed Jun 3, 2009
These days, a basement is only a factor if the person looking to purchase a home absolutely needs one. There is generally no problem re-selling a home that has no basement, there are those who do prefer no basement.
1 vote Thank Flag Link Wed May 6, 2009
Dmanu,

If you are having reservations about this opportunity based on your source of information, it would be fair to assume that future buyers will encounter the same difficulties.

The right home should not be bringing issues of doubt to you. The fact that there is no cellar will impact resale potential.

Good luck
1 vote Thank Flag Link Fri Jan 9, 2009
Hi Damanu,
This is a good questions from the point of view or resale! Do you want/need a basement? We all have different tastes! It is common a house without a basement in your area? Your realtor will help you with a CMA of Sold in the same area,he/she would know if they have or not a basement too . Also compare this house with other in the neighborhood.
Good luck!
1 vote Thank Flag Link Thu Jan 8, 2009
More and more people are ONLY looking for homes without basements. They're like dungeons or big moldy storage closets. Every home we've looked at with a basement just has clutter and looks and feels like a musty old second-rate garage. And these are the ones that have been finished with carpeting, tile, "bars". Yuck. People try to make them appealing as "man caves" "play rooms" "extra storage" or whatever. Can't fancy it up with a label. Moles live underground. Not people.
We thought we wanted a basement, but after seeing and feeling how unappealing and industrial they are, no matter how they're dressed up, forget it. Plus, they don't protect anyone during a tornado. So many people have been killed or injured by taking shelter in a basement only to have half the house fall right on top of them during a storm. No, thanks. Playing and living in Basements is an unsavory and fast-fading fad.
0 votes Thank Flag Link Sat Aug 10, 2013
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