Finished Attic Appraisal

Finished basements and unfinished attic areas are not included in total gross living area.

Finished attic appraisal.

Additions to homes and finished basements are some of the most common. When i had the appraisal done the appraiser noted that due to the ceiling height the area would be valued separately and at a lower rate. It is calculated by measuring the outside perimeter of the structure and includes only finished habitable above grade living space. What should you do about unpermitted work when buying or selling a home.

Gross living area is the total area of finished above grade residential space. What is unpermitted work. To be included in the square footage an attic would first need to meet the same criteria as any other space heating flooring ceiling and wall covering. First it wasn t engineered to carry the load that a normal living space floor carries.

I have a finished attic stairs walk in closet full bath and bedroom. However the ceiling height at its highest point is only 6 6ft. Some people wonder if an attic can be included in the finished square footage of a home if there is a pull down ladder or existing stairway to the space. Spend less in a basement renovation for a lower appraisal or spend more in the attic for higher appraisal value.

According to the nar 2019 report converting an attic to a living area nets an average 56 roi a higher return than adding a new bathroom or more than adding a new master suite. Unpermitted work is construction on a home that does not carry the necessary permits to make it legal per local ordinances. I don t see how a finished attic can be included in gla unless there are permits. So it can feel like a catch 22.

Whether you are a buyer or a seller improvements done without permits can prove. I wouldn t put a water bed up there. Converting your attic into usable finished space can increase the value of your home by maximizing the available square footage.