I have a smaller house that I'm going to put up for sale. The basement has a 10x10 den, 10x18 family room, and a 12x16 workshop area. When I bought it, only the family room and den were considered in the square footage of the house. I've read online that to be considered "finished," a basement room needs to be heated, cooled, and have a finished floor. My workshop has all 3, plus a window. Can I consider this as finished square footage when I sell? Or is this up to individual appraisers and realtors?
2007-06-26 02:45:17 · 2 answers · asked by Josh R 2 in Business & Finance ➔ Renting & Real Estate
This probably varies by locale. In my area, basements are simply not included in the square footage of a home, unless they have a door to the exterior (walk out basement or similar), or windows in walls which are at least half exposed above grade.
If the finished area does not qualify in those regards, we simply indicate that there are certain sized rooms either fully or partially finished in the basement.
If you are selling on your own, it would be wise to check with a real estate firm as to the practice in your area, so that you are advertising your space and footage in the same fashion which is used in your area.
2007-06-26 02:53:56 · answer #1 · answered by acermill 7 · 0⤊ 0⤋
It also needs to have finished walls, then it's a finished basement. The square footage, from a REAL estate point of view, is the sum of the length times width of each room.
2007-06-26 02:50:04 · answer #2 · answered by Anonymous 7 · 1⤊ 0⤋