Property Manager · Newport Beach, CA · Member since 2018 · 69 posts · 27 votes
I am looking into buying single family homes and came across a property that I would like to move forward with, but comes with a basement. Does anyone have thoughts on buying properties with basements? Are they more trouble than worth or can the numbers still work out? Is there a special insurance I can buy to cover in case of flooding that will cover damage?
Rental Property Investor · Erie, PA · Member since 2018 · 6k+ posts · 9k+ votes
7y
Basements are a pain but in my area they are so common that it would be rare to find a house without one . They flood , they stink they get mildew they are always cold . But renters love the extra storage space to hoard all their useless junk and bags of household garbage . If the unit has basement access then you can bump up the rent because it’s more space
Rental Property Investor · boston, MA · Member since 2017 · 202 posts · 222 votes
7y
@Codi Clausen If you are looking to buy a property with a basement you have to consider whether the area is flat or sits on a curve and where the floor is compared to the surrounding area. A basement that is on top of a small hill may never flood. Or there are basements that are actually built above street level in a flat area that may never flood as well.