OKC Pulse September 2013 | 页面 12

If buyers want basements so
badly in Oklahoma, why don’t the
builders build them?
FUNCTIONAL OBSOLESCENCE- Is a decrease in value due to
the property’s inability to perform the function for which it
was originally designed or intended. We’ve called this the
“Myth about Basements in Oklahoma,” today. Technology has
caught up, it’s no longer an excuse not to build as a result of
poor soils/water tables as proven throughout this study.
LIABILITY- The average unlicensed builder in Oklahoma does
not have the skills, education, licenses or experience
necessary to competently build basements. For these reasons
the typical builder in Oklahoma cannot get insurance to cover
their liability to construct basements. Some of these builder’s
attorneys will not allow them to build basements for warranty
reasons and/or civil liability risks, for the exact same reasons
insurance declines coverage.
COMPENSATE- Builders are already responding to the market
demand by compensating for lack of basements and offering
tornado shelters with EVERY home, and/or construction
materials with “tornado features” designed to be more
durable for high winds.

© 2013 S. Walker & Co.