Basements: History, pros and cons

I am from South Carolina. To have a basement in the Palmetto state is honestly unheard of. I never knew what the justification for having a basement was. I just knew that as a child, we always lived in a house on a slab or with a crawl space.

In the past week, I have helped 2 families look for a home in Grove City. One is looking for a condo, the other is looking for a single family home. The very first thing that they mentioned when I asked what they were looking for in a home was:

A basement.

Neither cared if it was finished off, if it was half crawl space and half basement. But both wanted a basement.

Why?

It seems like such a simple question. If you have always lived in a house with a basement, I am sure that you wouldn't even think twice about it. You just want a basement. Even after living in Ohio for 7 years, I can't imagine living without one. The storage space is wonderful, plus it is the perfect spot for our heating/cooling system, hot water tank, electrical panels, etc. Where else would we store our 9 foot Christmas tree? Or how about all of those baby items that I just can't seem to let go of?

So with all this talk of basements, I couldn't help but wonder why? Why do people in the south typically not have basements and people in the midwest/north have them?

The answer lies in the history of basements. Homes are anchored to the ground with footings. Homes in heavy freeze/thaw areas would be compromising the structure of their home if the footings of the home were above the frost line. To avoid this, builders started building the homes deeper into the ground. It only made sense to make use of this area by adding another floor to the home.

Since homes in the south typically do not endure the colder weather than people in Ohio or New York, they tend to not have basements.

There are, however, pros and cons of having a basement. (In my opinion)

Pros-
-Storage! All of those holiday decorations, outdated clothing that you cannot seem to let go of, and just things that you do not want sitting around on a daily basis in your home.

-Added square footage, which, in turn, adds more value to your home. For even more value, have a bathroom installed in the basement. Here is an article about adding bathrooms and value to your home:
http://consumerist.com/consumer/home-improvement/adding-a-bathroom-can-add-20-to-your-homes-value-298592.php

-A nice cool area in the warm summer months. The temperature is always lower than the rest of the house and you do not have to pump expensive air conditioning costs into the area.

-Safe shelter for homes that are situated in tornado alley. There is no place better than below ground if you are in the path of a tornado.

Cons-
-Lack of natural light. Because the area is underground, the number of windows are minimal and they are typically small.

-Moisture. The cool, damp climate provides a cozy home for mold and mildew. Dehumidifiers help, but you always should be aware of the moisture level because the most healthy option is to keep the basement (and entire house for that matter) dry and moisture free.

As you can see, my list of pros is longer than my list of cons. Although I lived without a basement for 20 years, in the past 7, I have found that they are completely worth it. We currently have a half excavated basement and half crawl space. The half excavated area has been my craft room for the past year. We are currently upgrading that area and finishing it off into one room with a bathroom. We hope to make the basement a tv room and recreation area. So in the coming weeks, please check back to find pictures of the renovation. We are quite excited!

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To Sell or not to Sell?

So my number one question that everyone asks me when they find out that I am in real estate is:

"Should I sell right now? Is it possible?"

Well, yes, it is possible of course! Houses ARE selling. Despite what the media says, houses are selling every day. Yes, we do have more inventory than usual. But that certainly doesn't mean that your house wouldn't sell. Here are some considerations if you think you'd like to sell your home.

-Can you sell it at a price that the market will support? In other words, have your agent come out and look at your home and see what they think it would sell for. It will cost you NOTHING for an agent to come out. But the key here is to be realistic. If you have 5 agents all telling you that you could sell your house for $100,000, but you need or have to list it at $125,000, most likely it is going to be very hard for you to sell your house. Price is the number one factor for most people. They need it to be the right price.

-Is your house updated? Does the kitchen look like it is right out of the 50's or does it look modern, with updated flooring, cabinets, countertops, etc? You have to keep in mind that even though YOU may love that pea green fridge, that doesn't mean that everyone else will.

-Is your house cluttered? People do not like to see a cluttered house. It just doesn't sell as well (as quickly and for the most amount of money) as a decluttered house. A cluttered house just looks messy and can actually make the house appear smaller than it really is. Here is a website about clutter:
http://bottomlinesecrets.com/blpnet/article.html?sid=E031002S6A&article_id=22345

-What is the condition of the house? The bottom line here is that people don't want to move into a house that needs work. Will they buy a house that needs work? Absolutely. But don't expect to get top dollar for your home if it needs a new roof, new windows, or a paint job. These things are going to be noticed by the prospective buyer or in the inspection. People just simply aren't going to pay top dollar for a house that needs major repair.

So yes, you CAN sell your house in today's market but please keep the above things in mind.

Welcome!

Welcome to my new blog!

My name is Linsey Moffett and I work for Real Living HER outside of Columbus, Ohio. The real estate business is a crazy place right now and there are so many blog worthy discussions to be had.

Over time, I plan on blogging on life in Grove City, Ohio, real estate perspectives, and more.

Keep checking back for updates! :)