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Old 10-14-2014, 09:27 AM
 
Location: somewhere in the Midwest
625 posts, read 948,148 times
Reputation: 331

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I am looking at houses but I selected a house and made an offer on a house that doesn't have a basement. The other houses that were available with a basement weren't as good in quality. I didn't fill out the loan application and the closing won't be for three more weeks. If I buy this house and try to sell it after the mortgage is paid off, will it be worth it? Or should I walk away from all this altogether?
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Old 10-14-2014, 10:05 AM
 
Location: Sioux Falls, SD area
4,818 posts, read 6,825,110 times
Reputation: 10098
Quote:
Originally Posted by anonymous51 View Post
I am looking at houses but I selected a house and made an offer on a house that doesn't have a basement. The other houses that were available with a basement weren't as good in quality. I didn't fill out the loan application and the closing won't be for three more weeks. If I buy this house and try to sell it after the mortgage is paid off, will it be worth it? Or should I walk away from all this altogether?
Just make sure that you make friends with your neighbors as you will be visiting from time to time when there's a tornado warning.

As long as you have a close place to seek refuge during one of these storms, I wouldn't worry too much about it. Some people would avoid your house when reselling it with the primary reason not being safety, but missing the extra living area.

If you have a sloped back yard you could even put in a tornado shelter. This is nothing more than a small dug out room with steps going down and built with block or poured concrete with a cellar door on it. Pretty inexpensive. My son has one and in case of a tornado, he's even safer than those that have basements. There isn't anything that's going to come down on him should the house collapse.
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Old 10-30-2014, 11:42 AM
 
Location: Omaha, Nebraska
10,297 posts, read 7,881,005 times
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If the house has a good-sized garage, you could also get an above-ground steel tornado shelter installed. They're not as good as the below-ground versions, but still offer substantial protection.
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Old 11-01-2014, 01:41 AM
 
Location: so cal
1,110 posts, read 2,458,542 times
Reputation: 1043
To the OP, NO
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Old 11-01-2014, 08:29 AM
 
Location: Nebraska
4,531 posts, read 8,817,193 times
Reputation: 7592
Quote:
Originally Posted by anonymous51 View Post
I am looking at houses but I selected a house and made an offer on a house that doesn't have a basement. The other houses that were available with a basement weren't as good in quality. I didn't fill out the loan application and the closing won't be for three more weeks. If I buy this house and try to sell it after the mortgage is paid off, will it be worth it? Or should I walk away from all this altogether?
Basements in Lincoln can be a problem if they are located in the wrong area. For instance a basement on top of a hill and with a type of soil that drains adequately will probably be just fine but a house a few hundred feet away at the bottom of the hill with a high clay content in the soil may be problematical. Pay a licensed inspector the money to do an inspection. Don't use an engineer that the listing agent recommends, find your own.

Gunluvver2
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