Buy a house with or without a basement. Confused. Please Help?
Question:Hi,
I live in New Jersey and am planning to buy a house. I liked two houses.One has a basement and the other doesn't. Other details about the houses are given below.
House 1 - Has a main road in front with fast moving vehicles.
Has Basement.
2 Bed,2 Bath,
Family Room,Living Room.
Lot Size 140 * 200
Backs to reserved land. Lot of privacy.
Looks beautiful from outside.(custom ranch)
House 2 - Has a quiet street road
No Basement
4 Bed,2 Bath
Living Room No Family Room.
All rooms except kitchen are a lot bigger than House 1.
Lot Size 100 * 150.
quite some privacy.
Also price is a little lesser than house 1.
Looks just ok from outside(Leavitt Cape) and sourrounded by beautiful houses .
I am confused between the two houses. Please provide suggestions as to which house is better or worth more. Or what more factors to consider. Both are in the same township.
Answers:
Of all the information listed, the two biggest things that stand out are number of bedrooms and the street. If the road for house 1 is busy and dangerous now, imagine what it will be in 5 years. Would you want to buy the house if the road were more dangerous? Also, house 2 has more rooms and larger rooms. The curb appeal of house 2 can be changed with some landscaping. And if surrounded by larger homes, it is a better bet. Always buy the smaller house in the neighborhood, not the largest.
Also, some information you didn't give, what are the general conditions of the properties? What is the preference in your area? I moved to Beaufort, SC where there isn't a basement no matter how much you want one from Winchester, VA where not having a basement was the kiss of death.
My initial reaction is to go for the house without the basement and the quiet st. How difficult is it to get out of the driveway on the busy st? You can always fix the landscapig on house #2. Also of course you are considering the property taxes and the school system.
Judging by what you wrote, house #2 will be a whole lot easier to resale, which will make it more valuable. Exterior can be changed.
I would buy house 2.
House 1 being on a main road will be harder to sell because if you have or plan on having children this is not the ideal place for them to play and it alspo sounds like house 2 would have more space for a family to grow up in the outside and inside looks of a house can always be changed but adding on rooms and not living on a main street cannot very resonably.think of your families future and where you want them to be.Unless this is not a house you will grow old in.
Homes with basements are generally worth more, however with today's modular homes being what they are, it is just personal preference. You should have no trouble if house two was built right. Just make sure of a couple things. 1. Ask if the slab the home was built on is insulated or not. (make sure it is) 2. Ask about the water supply and how it comes into the home, make sure it has NEVER frozen up in the winter. 3. Ask how the sewer pipes go through the slab. 4. Make damn sure the homes sills are in excellent condition (homes setting directly on slabs tend to have water come in between the slab and walls. 5. ALWAYS ask to have a home inspection done by a qualified inspector that YOU choose.
In my opinion everyone's situation is different. If you have family members that sometimes can't make it on their own or you have a troublesome mother-in-law, get the one with the basement because you can always stick that favorite family member down there.
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