Should I buy Two bedroom Ranch with additional bedrooms in basement ? (Time: houses, buyer)

[FirstTimeBuyer2011]

We saw one 10 year old existing ranch style house. It is on water and in very good location. It has 2 bedrooms on main floor and other 2 bedrooms with egress windows in basement. I have been told that it will be really hard to sell as people prefer all bedrooms on main floor. Space from the third bedroom is used in the Kitchen and master bedroom. Price on the house is very attractive and about $20k less than other similar size homes.
3/4 bedrooms ranch on main floor is very common in area.
Do you think we can buy it for the right price or rather stay away from it ?

[ToriaT]

most people are not fond of bedrooms in the basement. Id beware of it. i might buy it if i really did not need to use the bedrooms except as a guest room but i dont think id put my kids down there. i would prefer bedrooms actually in an attic rather than a basement.

[chicagojlo]

It depends on what you consider the 'right price' and what your intentions for the property are. If you plan to live there long term and make it your home, and possibly have your own children sleep down there, then the right price is possibly different than if you plan to only live there for a couple of years with the intention being solely to sell it for a profit.

Personally I don't want my kids sleeping on a different floor to me at all, whether it's the basement or just another floor. And most people are cautious against having children in an area of the house that is more prone to water damage of any kind, since that is where you'll also most likely find mold.

[chet everett]

MLS has restrictions on ever listing a home with any kind of space below grade as "bedrooms"even with all safety issues and quality /livability -- no matter if there are huge full picture windows for egress, closest, bathrooms you will NEVER get as much as if the bedrooms are on main/ upper floors.

That said, if you don't need the space and will live there for long time AND the value is good then I might say this makes sense..

[FirstTimeBuyer2011]

Thanks for reply..We are planning to live there for some time. I understand that most people like to sleep on the same floor with the kids. But I also heard parents with the teenagers prefer the separate floors. Your replies gives me some idea and hopefully some more people will reply as well.

[sydbarrett]

Originally Posted by FirstTimeBuyer2011

It is on water and in very good location.

How close to the water? And what body of water is it?

[FirstTimeBuyer2011]

There is a pond in subdivision and property is on pond. Property has view of pond from most part of the house and access to pond from backyard through fence. Price of the property is even little less than the other properties which are not on the water.

[middle-aged mom]

Is the square footage of the primary level consistent with 3-4 br homes in the area?

Such homes may appeal to aging babyboomers as time goes on. They do not need as many bedrooms and many will prefer to live in a ranch.

Consider it a 2 bedroom and if interested, make an offer accordingly. I am not sure that $20K is enough of a discount. Depends on the home and the area.

Remember this discount when it comes time to sell cause you will likely have to sell for less than other area homes.

Since the property is on a pond, pay particular attention to potential lot flooding issues. Talk to the neighbors.

[FirstTimeBuyer2011]

Sq ft is consistant with the other houses and they just used up the 3rd bedroom space in kitchen and master bath etc.

Area is very nice and generally you don't get any discount at all.

Though actual lots are little higher level but I will still check about the lot flooding issue.