Finished Attic Part Of Gla Appraisal

If a room which meets guideline 5 and should be included in gla has a sloping ceiling the appraiser should consider the 5 foot height rule for calculating livable space.

Finished attic part of gla appraisal. I wouldn t put a water bed up there. It does have a door from my daughter s bedroom that we use as storage. A requirement is that attic ceilings have a height of at least 5 feet. A contractor or a local building.

The interior needs insulation sheet rock tape and textured also needs flooring. Part 2 of my story please understand the difference between a unfinished attic finished attic and half story. 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 exterior is completely finished.

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. Calculated by measuring the outside perimeter of the structure and includes only finished habitable above grade living space. Follow the rule of 7s. This is a huge difference that i learned the hard way.

Gla and attic space though some homeowners don t use their attics as living space appraisers can factor these sections into gla. I have an unfinished space above my garage that i always thought was an attic. I don t see how a finished attic can be included in gla unless there are permits. 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. Second it may cause the total gla to exceed the amount of living space allowed by that city for that lot size. A finished basement is not measured as part of gla because it is below the property s grade level. Finished attic space with a minimum of 5 foot walls and heat is calculated for gla.

The fannie mae selling guide does not specifically identify any requirements for inclusion of finished attic spaces or ceiling heights. Definitely a nice feature but not gla. First it wasn t engineered to carry the load that a normal living space floor carries. The erc guideline also states.

Every attic is different but a few established norms and practices will guide your renovation.