Are you thinking about buying a new home this coming year? Chances are, before you are done looking at many houses, you will find one with a wet basement. There are many houses in northeast Ohio that because of their age have problems with the basement, or even the foundation of the house.
If you are buying or selling a home, the basement and foundation of your home are two of the places that can make or break the deal. A basement with water on the floor can leave the buyer unwilling to make an offer, even if the upstairs is lovely. If the foundation has problems, it is very unlikely you will get a good offer for the house.
Read more about what to look for when buying or even selling a home by following the links below.
Homebuyers: 7 Red Flags to Search for When Touring a Basement
When you compile your list of must-haves in a home and compare it with what’s on the market, a finished basement is almost always a big plus. You get additional square footage for living, entertaining and storage without having to put up the effort and money to finish the space yourself.
But before you fall in love with that finished-basement abode, approach the space with a critical eye. The basement, after all, houses most of your home’s key functioning systems, from plumbing to electrical and gas. A poorly constructed or maintained space might lead not only to costly repairs, but also cause damage elsewhere in your home.
Consider the consequences of taking on a troubled basement. If the finished below-grade space lacks permits or proper waterproofing or contains amateur craftsmanship, you could face municipal fines or risk sickness-causing mold and future fire hazards.
When it comes time to negotiate with a seller on purchase conditions, consider these basement red flags a bargaining chip to ensure you’re getting a well-maintained home. “I would make sure it got resolved before they actually purchase the home,” says David Schrock owner and founder of Basement Spaces Inc. in Aurora, Illinois.
Tips for a finished basement that’s mold-free
Q. I want to get your input on the correct way to finish, in this case refinish, a basement. I believe the previous owners missed one or two critical steps, causing mold to grow on the backside of the drywall.
The house is about 60 years old with a poured-concrete basement foundation whose walls are in good shape. The concrete walls were not painted/waterproofed on the inside. There are no signs of water leaks or holes in the walls.
The previous finishing was done by putting in untreated 2-by-3s as studs ¼ of an inch from the concrete walls, stapling R13-value pink insulation to the studs, then putting up regular drywall on top of that. Twenty-five years or so later, mold appeared on the bottom portion of the drywall (on the back ), and some of the untreated-wood sill rotted. These items are now gone. There is an appropriate-sized dehumidifier in the basement.
To insulate, seal, and finish the basement properly, what are the best steps for the money that meet the necessary building code standards? It seems there are a number of ways to go about this.
The rise of the basement: Tips for a better space
OMAHA – With fewer homes for sale and good returns on the remodeling investment, more homeowners are reclaiming their lower levels and remodeling their basements.Basements are coming out of hiding these days. And they’re doing it in style, with before-and-after transformations featured everywhere from HGTV to Pinterest and YouTube.
What’s driving this trend? A tight housing market, for one thing. With houses at a premium – and a proliferation of DIY how-to’s – more homeowners are inspired to reclaim their unused space and expand their living area.
A smart, affordable upgrade
Updating your lower level is a sound investment in your home. Remodeling magazine’s 2016 Cost vs. Value Report put the average basement remodel at $61,303, with a 70.3 percent payback – a far better investment return than adding a bathroom or garage.
Props for your property value
Depending on local regulations, the additional space can often be added to your home’s total square footage, making your market listing more appealing to buyers and potentially increasing your property value.
To recoup the most from your remodeling efforts, make sure your design and decorating choices are attractive and functional – not too quirky or customized.
