What is Considered Living Space?

This is part three of the “This Doesn’t Add Up” by: M.E Atwood, article regarding appraisal square footage. I am going to be covering each paragraph in a separate blog. This week’s paragraph is titled “Not All Entities Agree on what is Considered Living Space”.

  • Fannie Mae and Freddie Mac require categorizing space in basements in a separate category (basement & finished rooms below-grade). Therefore they are not added to the square footage like the regular bedrooms called above-grade. This is true even for highly finished walkout basements.
  • Houses with additional or converted attics present challenges as well.
  • Unusual floor plans, multiple stories, open areas, spaces that widen or narrow at the floor or ceiling, and complicated layouts increase the likelihood of differences.
  • An excellent source for learning more about measuring homes is the American National Standards Institute or ANSI.
  • Here is a link: http://www.housemeasures.com/ArticlePages/ANSI-Measurement-Standard.html.
  • At the end of the day a licensed appraiser is the best source to answer these kind of questions.
Posted on July 8, 2016 at 4:16 pm
Judy Dunlap | Category: Real Estate | Tagged ,

Measuring Tools

measuring-tapes

This is part two of the “This Doesn’t Add Up” article regarding appraisal square footage. I am going to be covering each paragraph in a separate blog. This week’s paragraph is titled “The Tools Can Make a Difference”.

  • Laser measuring equipment can produce a very accurate measurement if you have a clear shot
  • Fiberglass tapes are reliable when new, but they stretch with age.
  • A steel tape tends to be more accurate but also has limitations due to not being as flexible (doesn’t work well with right angles or curves) as a fiberglass tape.
Posted on June 30, 2016 at 4:20 pm
Judy Dunlap | Category: Real Estate | Tagged ,