Finished Attic Part Of Gla Appraisal

Included in the calculation would be only that floor area for which there is a vertical distance of 5 or more feet between floor and ceiling.

Finished attic part of gla appraisal.

Above and below grade finished areas the above grade finished square footage of a house is the sum of finished areas on levels that are entirely above grade. It states that there needs to be at least a minimum of 5 of ceiling height for the space to be counted as part of the gross living area gla. Ansi is pretty clear that for a finished area to be included in total gla it must be connected to the main house by a continuous finished area such as hallways or staircases so keep this in mind when planning your next addition and you will get maximum value for your investment. Here s a picture to help you understand it.

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. Fannie mae and ansi are both consistent with this definition. The first criteria is that at least half of the finished square footage must be 7 feet where the ceiling slopes and those areas less than 5 feet are not counted in the finished area. The fannie mae selling guide does not specifically identify any requirements for inclusion of finished attic spaces or ceiling heights.

In the diagram above only the area that has a the ceiling height of 5 feet would be counted as living area. So in an a frame home gla includes the rectangular cutout of the attic space that would otherwise constitute. Similar to below grade rooms this space is given value in part of the appraisal other than gla. The shape and quality of finish is usually inferior to the first floors and fnma guidelines allows one to do it that way.

Gla is defined by the dictionary of real estate appraisal as the total area of finished above grade residential space. I m a home owner that recently had an appraisal done. The erc guideline also states. However renovated areas or additions may not be of gla due to the lack of a foundation.

Gla and attic space though some homeowners don t use their attics as living space appraisers can factor these sections into gla. I have a single story house it has 5 bedrooms 4 bath 3 rooms and 2 baths are separated by a breezeway the appraiser said the 3 rooms are not part of the gla. The rooms have their own heat and air covered by the same roof. There are several criteria that must be met in order for this area to be included.

Finished basements and attic areas are not generally included in gross living area. I never almost never include the finished attic space in the gla.