Market Conditions in Madison>Question Details

James, Both Buyer and Seller in Raleigh, NC

Is there any difference in value for a lower level (split level, above grade) or a regular basement?

Asked by James, Raleigh, NC Thu Dec 17, 2009

My home's a spilt level, but my entire lower level is at, or above grade (& all rooms have regular windows; not eye-slit windows)

Help the community by answering this question:

Answers

3
Mike Adler’s answer
James: Determining values is really in the eyes of the buyer for your home. In general, exposed lower levels have much more value than a regular basement that is not exposed or a lower level that has some type of egress window. Split levels in the Madison area are a bit more undesirable than the so-called normal ranch or a two story home. Your description of the home you have would certainly be a bonus to a buyer when you are competing for a buyer because you have all your rooms at or above ground level. Split levels are just not as popular as I stated, the normal ranch or two story. I hope this helped. Email me with any questions you may have at mikeadler@tds.net.
Web Reference: http://www.mikeadler.com
0 votes Thank Flag Link Fri Dec 18, 2009
James - this may vary from area to area.

In my area, there are a variety of split level floorplans. Many have grade level rooms such as a family room, extra bedroom/office or maybe powder room or laundry. There are splits that have, in addition to the grade level room, a below grade basement, as well. It may be a full or partial basement, and it may be finished or not.

There is more value, here , with a split that has that basement - preferably a full basement. The additional storage space is valued...and the potential for finishing it off in the future, adds more value.

I don't know if the lower level you are describing is similar to the grade level layout I described...or if it is considered to be a grade level basement, without defined rooms..
0 votes Thank Flag Link Fri Dec 18, 2009
I would say that in general, split level homes tend to be less valuable than other types of homes (ranch, 2-story, etc). But to your point, I do think that exposed basement square footage is more valuable than unexposed.

If you are trying to figure out the value of your home, you need to look at comparable homes (other split level homes in the neighborhood) that have sold recently. That is really the only way to get a good idea of what your house will sell for in today's market. Let me know if you would like to meet to discuss your home's value.
0 votes Thank Flag Link Thu Dec 17, 2009
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2016 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer