Hey everyone, I'm looking for some advice about a situation with my home. I bought my house on the East Coast about 20 years ago, and I just discovered that the partially finished basement and the half-bathroom down there weren't listed on the tax assessment. I inherited these features from the previous owner, and I can't remember if they were ever disclosed during the sale. Back then, my agent strongly encouraged me to waive the home inspection to make my offer more appealing in a hot market.
I've checked with the local permitting department, but they only keep records from around 2006 onward, so I have no way to confirm if these additions were permitted or not. I've made some updates in the basement, but none that required permits. My big concern is how this could affect selling my house in the future, as I'm planning to sell within the next ten years. Should I be worried about this issue now, or can I address it later? I'd appreciate any insights – thanks!
1 Answer
Honestly, I wouldn't stress too much about it. When you go to sell, it's likely that the square footage of the basement won't be counted in your total, just like when you bought it. Plus, your taxes are probably lower because of that. Just focus on enjoying your home!
What about potential issues during a home inspection? If there’s a discrepancy between what's listed and what’s actually there, could that raise red flags?