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Answers (9)
- Appraisal guy
- Contributions:120
When the appraisal is completed, NO, the above ground or above grade area is included in the GLA (gross living area) and the basement is given credit, but it is compared to other basements and it is NOT included in the above ground living area. It does not matter if the basement is finished or unfinished, they should not be added together. Even if the basement is daylight basement, it is not added to the GLA. If ANY area is below ground level, it is considered basement.
- Toby & John T. Williams, "tjplace"
- Contributions:271
I once heard the MOST common reason a real estate agent will get sued is due to incorrect square footage. I see this ALL the time on the TV shows. They seem to always count the basement and maybe even the garage.
GLA is gross living area. As an appraiser, we ONLY are allowed to count LIVING SPACE (finished/heated) that is Above Grade, above ground. There is value to basements and garages and whether they are finished, it is just not included the same way as above grade living space.
GLA is gross living area. As an appraiser, we ONLY are allowed to count LIVING SPACE (finished/heated) that is Above Grade, above ground. There is value to basements and garages and whether they are finished, it is just not included the same way as above grade living space.
- Francesca Patrizio, "PatrizioRE"
- Contributions:132
Here in NJ,finished or not, the basement is NOT included in the total home square footage.
- Jim Hoekenschnieder, "HuntsvilleAL"
- Contributions:32
Every market area treats basements a little differantly. In our area, as long as basements are finished space and is heated and cooled it counts. As was pointed out earlier, appraisers will reflect basements at a lessor value as above ground space.
- Appraisal guy
- Contributions:120
List the above ground area seperate from the basement area. Some Realtors will clump everything in together. This is confusing and you will usually get more unwanted calls to figure out what your are renting. List the bedrooms and bathroom on the main level, the bedrooms and bathrooms on the upper level and the bedrooms and bathrooms in the basement, if you have a garage or what kind of parking you have.
- Wallace Gibson, "Cvillecpm"
- Contributions:108
If it is livable * then yes. Finished v unfinished is not as important in renting v selling as rental prospects just want to compare the amount of livable space for their rent dollar
- wetdawgs
- Contributions:26854
In many areas, finished basement area is called out separately. Certainly finished basement area adds far less $$/square foot than above grade area.
- Sabranie Coyne, "Sabranie Coyne"
- Contributions:3
Absolutely!
- Ryan Halset, "RyanHalset"
- Contributions:730
Yep.
when listing the sq ft of a home is the basement if finished added into the sq ft.
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