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Episode 007 – Basements: The foundation of a real estate podcast
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It amazes me, when showing homes, how little attention buyers give to something as important as the basement of the home.
Background: Needed to get the foundation below the frost line. They still can be found in warmer climates, but not as frequently. Rare is wet climates prone to flooding or areas with high water tables
Very common in US Midwest; not in Texas, Oklahoma, Arkansas or areas within 50 miles of the Gulf of Mexico – stilts
Early foundations were built on stone and mortar crawl spaces (if the structure wasn’t built on the ground). The use of concrete and cement was refined and reinforcement measures were discovered through the late 1800’s and early 1900’s. By the 1950’s, it became a space of its own when powered excavating equipment came into use. Highly desired in Michigan and here is why:
Why?
- Ease of access to and location of mechanicals
- Thermal envelope and frost lines
- Storage (cellar)
- Shops, Entertaining Spaces, Home Gyms (more cubic square feet for the foundation area)
Types:
- Block
- Poured w/ Rebar (reinforcing bar)
- Precast
- Michigan – is a term used in and around Michigan for a crawlspace that was later excavated to the depth of a basement “dug-out”
How to look at a basement during a showing?
- Check very visible wall top to bottom, all the way around. What are you looking for?
- Water, moisture, phosphorescence, water stains walls and overhead
- Water in the basement:
- Sump Pumps
- Purpose
- Backups: Secondary pump, battery backup, water powered backup (city water only)
- Discharge, check valve
- Drain Tile/French Drain
- Drainage and gutters
- Rod holes – Hydraulic cement
- Sealing and waterproofing – Concrete is porous!
- Dehumidifier (especially in finished basements)
- Cracks
- Sump Pumps
- Water in the basement:
- Cracking
- Flooring Cracks are usually completely benign. No structural value. Not level for a reason!
- Cracks in poured walls should be sealed with either a low pressure or high pressure epoxy or polyurethane and monitored for changes
- Block wall can be monitored and tuck pointed, watch for expanding cracks and pushing
- Extreme cases where there is significate separation, shifting, or pushing:
- Steel bracing
- Wall Anchor Systems
- Insulation, daylight where there shouldn’t be (sill plate)
- Mechanicals
- HVAC – can’t get age without removing the cover, but look for rust, service dates, newer looking parts
- Water Heater – Might have the date right on it, but some manufactures incorporate it into the serial number. Rust, leaking
- Electrical panel box – Fuses or breakers, have a cover on it, any recent permit approvals, labelled (that might be a luxury)
- Water meter, well pump, water softener/filter – easy to get to, filled, changed filter
- Finished? Is it done properly?
- Framing – lumber in contact with concrete must be pressure treated or have a vapor barrier (most missed steps by a non-compliant DIY finished basements) or metal studs
- Emergency egress exits required in bedrooms and in basement with a rec room.
- Smoke detectors and Carbon Monoxide detectors are require (FHA and VA require in unfinished too, but just a good general practice.
- Electrical run through the floor joists and studs and not just over the drop ceiling or stapled under the floor joists
- Flooring – special moisture resistant materials required for basements.
- Counting the basement bathrooms or bedrooms – No, rooms below grade cannot be counted for living area or room count. Sellers: Don’t cheat! Buyers will walk out when they realize a 3 bedroom is really a 2 bedroom with a basement bedroom. The appraiser won’t see it your way either, yes, even with a walk out.
- Check on permits!
- Water, moisture, phosphorescence, water stains walls and overhead
On the next episode: Buyer Offer Series – Foundation of a good offer
Thank you for listening.
If you have questions, comments, or want me to help you with navigate this Sizzling Seller’s Summer of ’16:
Email ksmith@nbsre.com
Twitter @nbsrealtor
Facebook www.facebook.com/kevinsmithrealestate
Don’t forget to subscribe to this podcast! I am Kevin Smith and this has been the Real Estatement.
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