Many private houses have a basement. And a logical question arises, can my walkout basement be included in square footage? This question often comes up when people are selling real estate.
- 1 Features of calculating the overall square footage of the house
- 2 Basement area and property value
- 3 Useful areas and basements
- 4 In what cases is the basement excluded from the total area?
- 5 In what cases is the basement included in the total area of the house?
- 6 The value that a finished basement provides
- 7 FAQ
- 8 Results
Features of calculating the overall square footage of the house
The main purpose of the finished square footage is to determine the size of the property.
When real estate transactions are concluded, almost always all attention is paid to square footage.
This is one of the main indicators of the value of real estate if you are planning to sell. Even if you do not plan to sell the house, it is important to know the square footage.
To correctly calculate the number of square footage, follow these instructions:
- Measure the length and width of the rooms.
- Multiply the figures for each room, and record them separately.
- Add up the resulting numbers. This determines the gross living area of the house.
The figures will only be approximate. If you want to know the exact indicators, it is better to sign up for a consultation with a professional.
Basement area and property value
If you learn in advance what rules include a basement in the total area of the house, you can quickly start selling real estate.
It is very important to know exactly how much square footage the basement occupies. It is by this indicator that a real estate agent looks for objects for their clients.
If the square footage calculations are incorrect, the value of the property is incorrect. An experienced real estate agent can independently determine that the proprietors are trying to deceive them. It is not uncommon for houses to be sold while having gabled ceilings.
The seller may specify the floor area, which is 800 square feet. However, the usable space in the house is only 400 square feet. For this reason, the cost differs from the real one by several tens of thousands of dollars.
The basement, which is below ground levels, and is sponsored by the state, cannot be included in the gross living area.
Useful areas and basements
The concept of square footage refers to the gross living area. If square footage is not suitable for human habitation, it can be excluded.
If the basement is under the stairs, and it is difficult to use it, it should be excluded from the gross living area.
The basement is a livable space if it is completed with windows and heating. When evaluating, a home’s square foot must be taken into account.
Considering that according to the GLA standard, only those objects that are above ground should be included, basements are excluded from this list.
In what cases is the basement excluded from the total area?
There are several cases where the basement is not included in the gross living area, namely:
- unfinished basements
- basements are not heated
- the basement is completely or partially below ground level
Despite the simplicity of such rules, it is important to remember that there are certain nuances.
Therefore, many people first determine, based on what factors, the basement is included in the square footage of the gross living area.
Basements that are below ground level
If the basement is underground, it does not contribute to the square footage. This is an ordinary technical room that is not intended for life. The rules may vary slightly, depending on the place of residence, as well as the specialist with whom you consult.
The unfinished basement is excluded from the common residential property. Considering that the unfinished basement is not yet finished, it cannot be a living space.
Until the finishing is completed, it is impossible to connect water, heating, and electricity.
Even a finished basement that lacks the above amenities falls into the unfinished category.
Even if you have equipped a pantry or a bedroom in the basement, however, there is no light or heating here, the basement is excluded from the gross living area.
On average, a completed basement costs $20000. To fully make it habitable, it takes at least $80000.
Regulations in your region
You need to understand that the rules for including a basement in the gross living area may vary, depending on the region where you live.
Almost throughout America, the basement is excluded from the total area of the house, however, there may be exceptions.
If you decide to sell your basement, it makes sense to hire a real estate agent.
Often a real estate agent has accurate information regarding the legislation of your region.
If in your area, the basement is included in the home’s total square footage, then the cost of the object is supposed to spike.
The buyer, who is not satisfied with the price, may refuse to purchase. Especially if the appraiser decides not to include the basement in the shared living space.
In what cases is the basement included in the total area of the house?
You need to understand that the rules based on which the basement is included in the total area may vary depending on your state.
Whether a walkout basement count as square footage depends on your real estate agent.
The legality of entry and walk-out basements
If an entrance is provided in the basement, then a person has full power to enter the property. The presence of an exit to the basement ensures that a person can exit the basement.
That is, it guarantees the availability of an emergency walk-out basement, which is required by the local authorities.
After all, in case of danger, a person can leave the basement.
If there is a fire in the house, rescuers can use the entrance and a walk out basement to rescue people.
You can enter and leave the basement if it is used as a kitchen, dining room, bedroom, or service room. Many equip home theaters on the basement floor, so access to the basement is a necessity.
For an outside opening to be considered an inlet or outlet, it must open outward. It should not require keys to open.
And all holes must comply with the dimensions that are prescribed in the local code.
The walkout basement included in square footage must meet certain requirements, including:
- The window size must be 5.7 square feet
- The window must be 24 inches high and 20 inches wide
- For the basement to be deemed as square footage, the window must be 44 inches from the floor
- The height of the window from the floor must be no more than 44 inches. Otherwise, to be able to count as square footage, you have to equip steps or stairs.
Basement above ground
You need to understand that almost all finished basements that are underground cannot count as square footage.
Even if they have excellent finishes, finished above-grade areas do not always be included in the total area. However, it all depends on your region.
Many are interested in how much value commercial real estate is above ground costs. It all depends on how much basement space is provided. As you know, a finished basement underground costs less than structures above ground.
The basement can be included in the gross living area if you have made a finished basement.
That is, it must have a quality finish that meets all quality standards. Only then can it count as square footage.
For a basement to be included in the square foot of residential real estate, it must have high-quality lighting and decoration.
Some agents consider a completed basement, which has carpet flooring and concrete walls, to be complete. However, experienced professionals are sure that such a basement cannot be included in the square footage.
Availability of air conditioning system
As you know, the finished basement needs heating and air conditioning.
The presence of heating devices powered by electricity does not allow making the room included in the square footage. After all, you have to take care of safety.
If the basement is heated by a system that is the same as the total area of the house, it can be included in the total square footage.
The value that a finished basement provides
If you have a ready basement, you can increase the cost of the object by almost half. If the basement count is increased, then you can sell the house for much more.
Especially if the above-grade room count does meet the expectations of buyers.
The basement count can be 2-5 pieces.
Many are interested in how much value the basement has with an exit. It all depends on how much finished square footage there is. The higher the number of home’s square footage and the more convenient the access to the basement, the higher the price of real estate.
When it comes to the area of the finished grade basement and its inclusion in the gross living area, numerous questions can arise.
Is a house with a walkout basement considered 2 story?
It is impossible to accurately answer this question because it all depends on the area of the walkout basement, as well as its design. If a finished basement has exit windows that make it habitable, you’ll have to pay taxes on it. If there are no windows in the finished basement, then you do not have to pay taxes.
Why is the basement not included in the square footage with insurance?
You can include the basement in the total area if the basement counts all the amenities. An exit must be provided so that in case of danger, a person can leave the dangerous premises.
When can you count basement the square footage Missouri?
The finished basement can be considered square footage, it must have an entrance and an exit. This is your guarantee of safety.
How do you calculate square footage of a basement?
Determining the basement square footage is quite simple. You just need to measure the width and length of the room, and then multiply the figures. Measurements are taken in feet, and after the multiplication, you get the basement square footage.
The basement is included in the total square footage only in certain cases when it meets all legal requirements. That is, it must have an outlet, as well as a quality finish.