Finished Attic Appraisal

Santa clara county doesn t have finished attics but nearby san francisco does.

Finished attic appraisal.

To be included in the square footage an attic would first need to meet the same criteria as any other space heating flooring ceiling and wall covering. Fha hud guideline handbook 4150 2 states. Converting your attic into usable finished space can increase the value of your home by maximizing the available square footage. First it wasn t engineered to carry the load that a normal living space floor carries.

Finished basements and unfinished attic areas are not included in total gross living area. Spend less in a basement renovation for a lower appraisal or spend more in the attic for higher appraisal value. It is calculated by measuring the outside perimeter of the structure and includes only finished habitable above grade living space. According to the nar 2019 report converting an attic to a living area nets an average 56 roi a higher return than adding a new bathroom or more than adding a new master suite.

Gross living area is the total area of finished above grade residential space. If your home is smaller than other homes in your area or simply lacks the necessary amount of storage or living space for your family finishing your attic is a relatively inexpensive way to increase your usable space. Whether you are a buyer or a seller improvements done without permits can prove. Unpermitted work is construction on a home that does not carry the necessary permits to make it legal per local ordinances.

What should you do about unpermitted work when buying or selling a home. I have a finished attic stairs walk in closet full bath and bedroom. I don t see how a finished attic can be included in gla unless there are permits. I wouldn t put a water bed up there.

When i had the appraisal done the appraiser noted that due to the ceiling height the area would be valued separately and at a lower rate. What is unpermitted work. So it can feel like a catch 22.