Finished Attic Part Of Gla Appraisal

The fourth story when present is a mezzanine or loft area that years ago would have been considered about the same as a finished attic.

Finished attic part of gla appraisal.

I never had a problem subject to quality addressing these honestly and accurately as below the line basement in the old days other areas that may be at same value. The fannie mae selling guide does not specifically identify any requirements for inclusion of finished attic spaces or ceiling heights. Gla is defined by the dictionary of real estate appraisal as the total area of finished above grade residential space. Similar to below grade rooms this space is given value in part of the appraisal other than gla.

Only 1070 is fully finished the other 480 sq ft has direct access from the other finished gla and has central heat and air. First it wasn t engineered to carry the load that a normal living space floor carries. This is a huge difference that i learned the hard way. The exterior is completely finished.

Definitely a nice feature but not gla. The interior needs insulation sheet rock tape and textured also needs flooring. A contractor or a local building. Follow the rule of 7s.

Calculated by measuring the outside perimeter of the structure and includes only finished habitable above grade living space. I have an unfinished space above my garage that i always thought was an attic. Part 2 of my story please understand the difference between a unfinished attic finished attic and half story. Second it may cause the total gla to exceed the amount of living space allowed by that city for that lot size.

It does have a door from my daughter s bedroom that we use as storage. Gla and attic space though some homeowners don t use their attics as living space appraisers can factor these sections into gla. Enforcement varies but codes typically say that at least half of a finished attic must be at least 7 feet high and that this area must be a minimum of 7 feet wide and 70 square feet. I wouldn t put a water bed up there.

Finished basements and attic areas are not generally included in gross living area. Finished attic space with a minimum of 5 foot walls and heat is calculated for gla. A requirement is that attic ceilings have a height of at least 5 feet. I don t see how a finished attic can be included in gla unless there are permits.

A finished basement is not measured as part of gla because it is below the property s grade level.