How to Sell Your Condo and Buy a House: BASEMENTS
When youâ€™re shopping for a house, going down to the basement is probably not one of the first things you think of when first entering a home, but the basement can actually tell you a lot about the overall condition of the home.
The basement is actually the first place I go into whenever I am looking at a house with a client. There are a few key things I always look for:
1) the ceiling height
2) the furnace and hot water tank
3) the electrical panel
4) any signs of water damage, mold or mildew
In my opinion ceiling height is the most important feature of any basement. You can change just about anything else in a basement for minimal cost, but ceiling height is one thing you canâ€™t unless you are prepared to spend $50,000 to dig your basement down.
My expert tip is to try to find a house with good ceiling height. Even if the basement is completely unfinished, just the potential of what you could do with a basement with good ceiling height adds tremendous value to your home.
I wanted to show you this example of something that is quite common in basements in older homes in Toronto and that is efflorescence. Efflorescence occurs on the walls of a foundation when water penetrates the brick and as it evaporates it leaves behind a mineral residue. It can also occur when the air in a basement is too moist. If you see a lot of efflorescence it might be a sign that there was a moisture problem in the past or there is one currently. Proceed with caution.
If youÂ are thinking about selling your condo and buying a house this year, I’dÂ love to help. For more informationÂ contact me.