Homebuyers who are accustomed to having a basement may be afraid that they won’t be able to get used to living in a home without this extra underground space. Yet when building a basement can potentially add $20,000 to $40,000 to the total home price, it is certainly an option that is worth careful consideration.
When weighing the worth of having a basement, active adults should think about how they would plan to use the extra square footage. Would the basement be used simply for storage, or would it be finished and used for extra living space? Perhaps it would house a workshop, a sewing room or a tucked away “man cave.”
By understanding what they want in a basement, homebuyers can then look for floor plans that will meet all of their needs in a single level. This might mean buying a home with walk-in closets, a second bedroom or a multi-functional den. Some active adult communities also offer ranch homes with loft space which can easily make up for not having a basement.
Instead of having full basements, homes in many active adult communities have storage space in attics, crawl spaces, large closets and kitchen pantries. If this isn’t enough room for storage, empty-nesters should take a look at how much “stuff” they are storing. It may be time to sort out the boxes, have a yard sale or start giving some keepsakes out to the kids.
To weigh the value of a basement, homebuyers can compare the price difference in buying a home with a basement to buying a larger home that is built on a concrete slab. Basements can be a pricey option when building, but—if the space is actually needed—adding a basement may be cheaper than buying a larger home.
Comparing the homes in the community will also offer some possible insight into the home’s future value. A home without a basement won’t suffer in comparison to its neighbors if most of the community is built on slab foundations. However, it may not be the best idea to be one of the few homes without a basement in a community where they are considered a common feature.
When buying a new construction, opting to add a basement is a decision that isn’t easy to change once the house has been built. It’s important to consider the options and weigh the costs, but it ultimately comes down to a personal decision based on a homebuyer’s own needs and financial situation.
If you have any questions or would like to take a look at one of these communities please contact Carol Swain at (215) 431-8705 or info@BucksCountyBoomers.com
55+ Communities in Bucks County that have a basement:
Villas at Chancellors Glen - Bensalem, Pa
Villas at Regents Glen - Bensalem, Pa
Woodhaven Hills - Bensalem, Pa
Village at Dorchester - Sellersville, Pa
Flowers Mill - Langhorne, Pa
Delancey Court - Newtown, Pa
Lakeview Estates - Newtown, Pa
Regency at Yardley - Yardley, Pa
Ivygreene - Richboro, Pa
Regency at Northampton - Richboro, Pa
Village of Northampton - Richboro, Pa
Arbours at Hearthstone - Sellersville, Pa
Renaissance at Morgan Creek - Sellersville, Pa
Fox Run Preserve - New Hope, Pa
Centennial Station - Warminster, Pa
Legacy Oaks - Warrington, Pa
Villages at Whispering Pines - Warminster, Pa
The Villas at Five Ponds - Warminster, Pa
Bluestone Creek - Warrington, Pa
The Preserve at Lamplighter - Warrington, Pa
The Villas at Lamplighter, Pa - Warrington, Pa
Heritage Creek Estates - Warrington, Pa
Village of Rosecliffe - Sellersville, Pa
Carol Swain. A senior real estate specialist with 25+ years of experience in the real estate industry.