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What criteria is used to calculate "Living Space"?

I had a garage w/loft built onto my existing home.  An appraiser told me the loft (which I have turned into a game room - OK, it's my Man-Cave) could not be considered "living space and therefore could not be calculated into the overall value of the home.  His reasoning was that all four (4) walls had to be a minimum 4ft high and currently one wall is only 2ft. Is this true and what can I do to convert it into "living space" to add value to my home?
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December 28 2011 - Madison
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Profile picture for wetdawgs
There are two features you may be bumping into that I found with a quick search on the internet.

The ceiling must be tall enough for general use, so a 2 foot wall suggests sloped ceilings.  Some appraisers calculate square foot in the area where the ceiling height is above a certain height - as I scroll the internet I find some use 5 feet, some 6 feet and a whole slew of other numbers pop out.

In addition, to be considered as part of the living space of your home, it must be connected with contiguous finished area.   So, if there is a stair from the family room up to the man cave, you may be okay.  If you have to go out in the garage (or outside) to get to this "man cave", it most likely won't be counted.

This is not legal advice.  Please talk with the county assessor in your area to ask what it takes to be included.



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December 28 2011
 
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What criteria is used to calculate "Living Space"?
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December 28 2011 | 1 answers
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