Basement or Not (Purcellville, Lovettsville, Round Hill: for sale, how much, houses) - Northern Virginia - Virginia (VA) - City-Data Forum

That4car · 10-20-2009, 07:08 PM

Hi All, I made it back from my first house hunting trip in NOVA. Right now we are leaning towards the Purcellville area and actually found a house in Round Hill that we really like. Our main concern is that it doesn't have a basement which is fine for us, but are a little concerned about it not having a basement for resale value. Can any of you give me any insight on whether a home with no basement hinders sale of a home? Thanks!

michgc · 10-20-2009, 07:25 PM

After growing up in a house with a basement that floods and having one here that floods, it wouldn't hinder it for me! But I do know that many people look for one for extra square footage. How much square footage is the rest of the house? If it's big, it may not matter.

arielmina · 10-20-2009, 07:45 PM

Just moved to Round Hill yesterday - seems great so far! I have to say most of the houses we saw in our price range had a basement and usually it was finished. If they didn't, we simply couldn't consider them because we NEED it and we need it FINISHED. We need the home office and play space. I personally consider it a deal breaker, but I think it depends on your price range and overall size/amenities of the house.

clintsullivan · 10-20-2009, 07:53 PM

(Round Hill, farther out than I thought you were looking, for some reason I was thinking you had posted about the Dulles area, had I known I would have suggested a trek just across the line into WV where you would save a boat load on the cost of your house and in taxes.)
It really depends on the type of house & location. If it's in a subdivision and of a style where most other homes have basements, and there aren't typically problems with flooding in the area, the lack of a basement could be a large value and resale negative. Typically market value reaction to a basement is a relatively low dollar amount compared to cost. Also, if you pay typical market value now, then in the future you should expect an equal return within the normal market dynamic, be it an increase or decrease.
The real question should be whether you personally like the house more than you want a basement.

That4car · 10-20-2009, 09:00 PM

The home we are looking at is just just over 3000 sq feet and is in the 500k - 600k range. Seems like everything up there is pretty high. It does have a decent size bonus room above one of the garages, just not really big enough to use as a media room, den, etc and not convenient to the rest of the house for that type of use. Basically it would be used as an extra bedroom or office area. We like the house, but also have to keep resale in mind for down the road.

Arielmina -During our time driving around looking, we really liked the feel of the Purcellville/Round Hill area. Please, let me know how you like it as you settle in.

novahousehunter · 10-20-2009, 09:12 PM

I just bought a house without a basement.

On basements in general, I'm torn. I like them for maintenance/repair, as it tends to be easier to get to plumbing etc with a basement than a slab. On the other hand, I'd rather have my living square footage above ground than below.

I guess if your concern is price/resale, you could always compare the home you're looking at to those with the same total (including basement, which not all listings do--so rough math) as yours. Assuming most people value above ground space more than underground, that could serve as a lower bound.

Yankeesfan · 10-20-2009, 09:19 PM

We bought a house in a newly built neighborhood in the 80s where having a basement was optional. Nearly everyone paid extra for the basement. The houses that didn't have them were much harder to resell. Likewise, some models offered a choice between a cathedral ceiling or a fourth bedroom over the family room. The cathedral ceiling looked dramatic but the houses with the fourth bedroom (which is what we chose) resold faster. So I would say, what's the norm in this neighborhood? If you're one of the few without a basement people will likely look at your house and the others for sale in the neighborhood and choose one of the others. However if not having a basement is typical then it might not be so much of a problem.

Denton56 · 10-21-2009, 12:06 AM

Quote:

Originally Posted by That4car

Hi All, I made it back from my first house hunting trip in NOVA. Right now we are leaning towards the Purcellville area and actually found a house in Round Hill that we really like. Our main concern is that it doesn't have a basement which is fine for us, but are a little concerned about it not having a basement for resale value. Can any of you give me any insight on whether a home with no basement hinders sale of a home? Thanks!

Is the house a split level? Or is there some other reason that it doesn't have a basement?

I think my agent said that a basement is worth about $25,000. Price dictates everything. So, yes, you may have some trouble with reselling, but not if you price it right. Afterall, that worked for you, didn't it?

Glad that you liked our little end of the world. It's beautiful, isn't it?

Denton56 · 10-21-2009, 12:39 AM

You can get a lot of house now for under $600,000, although they are likely short sales. One of my friends put a contract in on this house back in August and they go to settlement in November. They're bidding less than the asking price of $575,000. It originally sold for over a million and it's huge, around 6,000 square feet.
LO7133227 on FranklyMLS.com 12841 APRIL CIR, LOVETTSVILLE VA for $575,000 in WATERFORD VIEW ESTS Home For Sale

This house is for sale in my neighborhood, for under $600,000, and I know how gorgeous it is. Also has a huge finished basement. It originally sold in 2005 for $975,000. It also has a very private yard with a hot tub. The owners have moved and are anxious to sell it.
LO7085672 on FranklyMLS.com 38206 PARNELL CT, LOVETTSVILLE VA for $600,000 in BRUCE Home For Sale

Lots good sales now! Hope you find one that you love!

arielmina · 10-21-2009, 04:32 AM

Quote:

Originally Posted by That4car

The home we are looking at is just just over 3000 sq feet and is in the 500k - 600k range. Seems like everything up there is pretty high. It does have a decent size bonus room above one of the garages, just not really big enough to use as a media room, den, etc and not convenient to the rest of the house for that type of use. Basically it would be used as an extra bedroom or office area. We like the house, but also have to keep resale in mind for down the road.

Arielmina -During our time driving around looking, we really liked the feel of the Purcellville/Round Hill area. Please, let me know how you like it as you settle in.

we'll have to stay in touch, perhaps we can be new to the area together

we loved Purcellville, Waterford, Round Hill and Lovettsville and the schools are top notch so that sealed the deal for us. So far so good!