Homes without basements? (Chicago, Oak Park: real estate, house, crawl space)

[chisub]

Obviously based on price alone I can see that basements are somewhat desireable. I grew up with a basement that was used as a rec room and storage, although my parents definitely had/have flooding issues too which have ruined some things. I saw a house today that I really liked and it had storage all over the place and a crawl space that was surprisingly not creepy (I've seen some that are super creepy and dirty). I'm guessing that the issue is more about resale like a home on a busier street, right?

[TempesT68]

I've read this a few times, but I'm not really getting the question

[chisub]

Sorry, VERY long day! Basically, are homes without basements worth buying in Illinois or just a really bad idea for resale?

[AuDiBelle]

Not everyone wants a basement. They do come with a lot of hassles (ie., seepage, flooding, freezing cold floors in the winter). However, most people do expect homes here to have a basement.

Are you looking to buy as an investment or are you planning to live in the house for many years? If you like the house and it has ample storage and living areas without the basement, then I say buy it. Crawl spaces are definitely preferable to slab, which can also be very cold in the winter unless you have radiant in-floor heating.

If you really desire a basement and you really like this house, you could always dig out the crawl and make a basement. I think you'd be looking at paying ~$30,000 +/- to do that though, but it might be something to investigate and negotiate into your purchase offer. Opt for heated floors though (I couldn't live without mine).

[kindrakindra]

Many Oak Park homes have unfinished basements that don't seem to hurt resale. Ours is for laundry and storage. I personally miss my huge basement from my Chicago house because it's a great place for kids to play.

[TempesT68]

They don't technically count as square footage, but a basement absolutely adds to the value of a home.

[AuDiBelle]

Originally Posted by TempesT68

They don't technically count as square footage, but a basement absolutely adds to the value of a home.

I've often wondered about that though. I didn't think that basements counted towards sq footage either, but I've seen a lot of listings that do include the basement sq footage, especially if the basement is finished livable space. Is it just dependent on the realtor and how s/he lists the property? I'm confused because I've seen it both ways.

[TempesT68]

I *think* the only way a lower level can be in the total livable square footage if it's something like a split level ranch where there lower level is not technically a basement. A true basement is not considered livable space so it doesn't add the homes livable/taxable square footage. Though realtors often will list the room dimensions (rec room,laundry/work room if they have it) and footage of a basement itself. A house say with 1,500 square foot is considered the same if it has a basement or not.

[sgresident]

I would say that basements are worth it, here in illinois. Especially when you get into many of the newer subdivisions with strict HOA"S. most do not allow sheds, or accessory buildings, so you have to have space in the garage for extras, and then a basement for the storage of the extra extras! LOL

[thePR]

I live in Illinois, not Florida, I want a basement in my house. Unless I "had" to buy a house without a basement, I wouldn't.

Originally Posted by whatyousay

I've often wondered about that though. I didn't think that basements counted towards sq footage either, but I've seen a lot of listings that do include the basement sq footage, especially if the basement is finished livable space. Is it just dependent on the realtor and how s/he lists the property? I'm confused because I've seen it both ways.

I recently saw a real estate website that listed the normal square footage of a house as well as the basement square footage. But what I have heard is that if the basement is finished that it is to be counted as part of the total square footage.