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 How should I prepare?
My boyfriend just bought a house and is asking me to move in with him and pay $500 rent. What should i do to prepare myself in terms of legal issues if we were to run into trouble? Should I ask him ...


 Can you please explain simply why an interest only loan is a bad idea?
We plan on getting a conventional loan, but have come to a road block. The PMI, with our poor credit score, makes our monthly payments $200 more than we can afford. We paid off a debt, at the ...


 I'm thinking of selling my house for sale by owner. Who is responsible for the legal fees?
Who is responsible for the legal fees and appraisal and all that comes with selling a house on your own?...


 What is the law for people who rent?
In NJ- What is the law on if you rent an apartment - does the landlord HAVE TO have a key to your apartment if you change the locks?...


 Is it a good deal to buy a new home from a developer who offers incentives only through their lender?
We are in the market for a house, and have talked to a number of developers in our community. They seem to offer great incentives, but only through their preferred lender. Is this a good idea, or ...


 What is the best way to get out of a year lease?
If we just left, what will happen? Does it mess up our credit in any way? we do realize that it would be a reference lost, but at this point, we can't afford it anymore. We've thought about ...


 How much will I need to put down on a house is it still possible for 100% financing, My credit score is 695.?
...


 Can anyone tell me the meaning of " buy to flip " in real estate business?

Additional Details
i will surely give away the 10 points to the best answer, promise. but i should get the correct answer. and a 5 star !...


 Help!! Rent just went up $35 dollars with no notice?
Can a new landlord just raise your rent with no notice? Furthermore, can a landlord give you a 5-day eviction notice with no previous warning?...


 We are new homeowners,is there a grace period till you are late?
are house payment is due on the 1st but we cant pay till the 3rd, will this harm our credit and count us late....


 Live in Landlord?
I have been living in an apartment for over a year now.Sharing with a gay male. I have no problem with him being gay, i myself am straight. For the first couple of months things were perfect, but ...


 Is it realistic to be a successful land lord if you work hard and have the money or are my chances slim?
...


 How do i get my wife's trailer park sister to pay me back the $700 she owes me from 2002?
...


 Who should pay the bill, the landlord or us the renters?
My gas bill came out outrageously higher than in the past. Our gas bill would usually be of 15 dollars, no more than that, but this time it came out of 200 dollars. The gas company came down and ...


 Whether verbal agreement is valid in property law?
Purchased a residential property with son in law and it was agreed verbally that on sale or one of us moving out that any increase in value would be split between us on basis of what each of us put ...


 I'm thinking about leting my home go into foreclosure, to get a better deal on a bigger home. Is this smart?
I bought the condo last year brand new for 244,000 and now the builders are selling the same condo for the starting price of get this 189,000 for a 1,743sq ft 3bed 2.5 bath 2car garage. My plan was ...


 Do i get a thirty day or sixty days to move?
ive been living in my home for six years and i live on a care home property. landlord has just sold the property. so im not sure if there are any other rights i had. nothing was written in my rental ...


 Paying down the principle on a 30 year mortgage?
On our monthly mortgage bill there is a designated area to indicate if we are paying for principal only (after the initial payment). Do I still need to write a seperate check for a "principle ...


 What is a definition of a SLUMLORD?
our landlord is..... well.. he sucks!!!
he showed up askin about or leaky hot water tank.... but didnt even bother tryiong to fix or suggest fixin it. he asked my husband what he wants to do ...


 RE: My landlord is being investigated for fraud, do i have to pay my rent?
I posted a question earlier you can view it here - http://uk.answers.yahoo.
I would just like to ...



MGen
House with no basement.?
What are some pros and cons of not having a basement. My wife and are looking for a forst home and have found one without a basement. It has two attics for storage and we are worried about resale etc. Does anybody know anything about this kind of thing. we live in northwestern nj.
                     
 




Jeff
I live in PA and recently built a home. The plans I chose originally called for a slab, but for a little extra the company redrew them with a basement. All it involves is finding a good place for the steps. I don't think building on a slab is a good idea in a northern climate. I would think it would be very cold in the winter being right on concrete all the time. Most homes built on slabs seem to be in the south. Unless the house has a walk up attic, I wouldn't plan on using it for storage. Most homes (like mine) have drop down stairs to the attic. It's so much of a hassle to get up there that I wouldn't even consider using it for storage. Hope this helps. PS - My answer starts out assuming you were building.


Cat
Some areas don't have basements because of groundwater or flooding issues.

If that's not the case, it's a expense issue. Building on slabs is way cheaper than building a basement.

If it has lots of other storage, that's a plus. Not everyone requires a basement. But even though basements are included in the official square footage of a house, many see it as potential living space, and a big bonus.

I'd say, if the house has everything else you want, and you can afford it, then trying to find the same house with everything you want AND a basement - you risk not being able to afford it, or something else being the issue...scary neighborhood, it needing work, etc.

Basements are nice, but I wouldn't let the basement alone, with worries of "resale" be the deal-breaker for a house you otherwise like.


ibu guru
Building on a slab is building cheap! It may also mean there are groundwater problems and basements flood in that area. What about the other houses in the immediate vicinity? Was it a little subdivision designed for cheap housing for working class people? Lots of shortcuts in that construction. Are other homes nice, fairly upscale, but no basements? Water problems. On a slab you won't suffer a flooded basement, but in exceptional water/rain conditions, you might have trouble due to the high water table. Only house in the neighborhood without a basement? Somebody was out for cheap, cheap.

TWO attics? Do both have regular staircases to access? Or pull-down steps? With pull-down steps, it is a pain in the neck, even if you only store the Christmas decorations up there.

Having lived in homes on slabs vs. "real" basements vs. unfinished crawl spaces/basements, a strictly personal assessment:

- slab floors are cold, very cold. If the slab ever cracks, you have more trouble than you can handle. If no basement due to high water table and land is a bit low (as opposed to higher than the neighbors), drainage problems in heavy rains/snowmelt

- unfinished basement or crawl space. Bugs, spiders, smells. UGH!

- real basements. Never at home without one.


bonsai
Depends on the area. If there is a glut of houses with basements on the market, nobody wants to buy the one without one.
In a hot housing economy, everything goes.
I would be careful. Do some research. Look at some combs.


Ross
Rating
If you can have a dry basement get a home with one. Most people love basements esp walk outs. It is about the least expensive way to "add" extra square feet to the house (assuming it was built that way, not by adding one).

Many families like basements because you can build them out as your family grows or it needs change.

All this being said they appeal to many people and can be a BIG bonus when it comes to selling. In areas that have basements not having one can affect the resale.

Not all basements are created equal make sure you use a home inspector.


cyn
Rating
Something else to consider then whats been said above, is that the floors will be colder.I lived in a house with no basement(slab house) and the floors were sooo cold.We wore winter socks and slippers, and still had cold feet.You can call the heating company and ask them what the monthly bills averaged also.


NanaNina
I just bought a home in NJ and one of my requirements when buying a home was it needed to have a basement. The reason were because we were looking at it from an investment perspective. Most growing families NEED a finished basement or living space in the basement so having a basement made it more potentially buyer friendly, should we need to sell in a couple of years. Since more than often you see growing families as oppose to single couples buying now, you want to be able to appeal to those buyers. I did see a house I liked WITHOUT a basement, but after learning that, that house came off the list.

Fact iof the matter is Americans are pack rats and having a basement with extra storage is a definite plus. I know you stated you had an attic you can use as storage, but one thing I'd ask myself is 1) are there too many stairs to go to the attic? 2)will the attic be used for sleeping quarters and 3) Is there enough room for storage AND living space?. I persnally like a house with a basement because of storage and convenient of hiding stuff away from view. Also, you can use the basement as a recreation room and add more square footage to your home.

Overall, a house with a basement is your best bet to a GREENER pocket later on!


bud68
It is not a factor for "resale."


erik p
Every old basement seems like its so damp that you can't even store anything in there without the paper rotting and cloth molding. I don't think it would affect resale at all. I like attics for storage.


Mrs HarleyBrat
Rating
as long as the home is solid - built on proper footings etc & you like it - then go for it. The bottom line is this - if you make the payments and you can afford to stay for several years - and you're ok with the fact it doesn't have a basement (in my area we like basements because they also serve as storm shelters in Tornado season) then buy it. Good luck


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