Answer: The typical definition of finished square feet includes all of the following:
- A permanent heat source (i.e. not a portable heater)
- Permanent lighting
- Finished walls (painted concrete block is ok)
- Finished ceiling (but not necessarily ceiling tiles or drywall, as in a loft)
- Finished floors
- Ceiling height of at least 6′
Full Answer
What counts as finished square footage in a house?
In general, areas like staircases and closets count as finished square footage. Spaces like garages, three-season porches and unfinished basements or attics are not included in the square footage of a house.
Is the square footage of a basement included in finished square footage?
But in Minnesota and western Wisconsin, if your basement has a finished floor, wall covering, ceiling and heat, then its square footage can be included in the total finished square footage of the house.
Can the second level of a house be included in square footage?
The second level of a 1.5-story home often can be included in the finished square footage count, but only if the ceilings are of sufficient height. For example, in some MLSs the ceiling must be at least seven feet at the highest point. Spaces where the ceiling is less than five feet tall must be excluded entirely from square footage.
Why is square footage important when buying a home?
Square footage is one of the key details that make a property comparable to another home, which means that you’ll factor square footage into your offer price. Not only could an inaccurate square footage number cause you to pay too much, but it could also cause issues with financing.
What is finished square feet mean?
Any space that has walls, flooring, ceiling and heat would count as finished square footage. So, it's likely that stairwells, closets, walk-in pantries and other areas you might be questioning would contribute to the square footage count of a home.
Does finished square feet include basement?
If a room is below ground level, even if it's finished, it cannot be counted towards your home's square footage according to Fannie Mae and ANSI guidelines.
What is not included in square footage of a house?
Unfinished areas, screened or open patios, vaulted rooms, and airspaces are not factored into a home's square footage. Additionally, any space that requires passing through an unfinished area – such as a pool house, storage area, or guest house will not be factored into the home's square footage.
What is considered finished space in a house?
A finished basement must be directly accessible and contiguous with the rest of the house. If the space doesn't have permanent stairs or direct access then it isn't considered a finished living area. Finished spaces only accessed by ladders, such as lofts, are also not considered living areas.
Why are basement not counted in square footage?
The entire level must be above grade in order for that space to factor in to the official square footage. This almost always means that if any portion of the basement is below grade, the entire level will typically be excluded from the calculation of the home's square footage.
Does Garage count in square footage?
Garage space is not included in square footage, and many standards do not count basements (even if they're finished) in overall square footage.
Do bathrooms count in square footage?
Bathrooms Bathrooms are also always included in your home's square footage if they meet the minimum requirements. For example, a half-bathroom in your free-standing garage cannot be counted because it is not attached to the main house.
Does stairs count in square footage?
Stairs: Runs/treads and landings both count in square footage totals. They are measured as a part of the floor “from which they descend,” so are generally counted twice in a typical two-story home with a basement.
Does a laundry room count as square footage?
Even the closets are counted as part of the square footage inside the home, so the laundry room should be too.
Does sunroom count as square footage?
Sunrooms usually don't get included in a home's square footage total, which appraisers use to help determine home values. But a full-room addition will add square footage to your home and has a higher return on investment.
Do you count the basement when sizing a furnace?
Basement Your new furnace should have enough heating capacity to meet your current and future heating needs once you update your basement. If your basement is finished, that space needs to be included in your square footage calculation, even if you rarely use the space.
How much value does finishing a basement add?
In the United States, on average, finishing a basement will give you a return of 70 to 75% of your investment. For example, if you spent $1,000 on improvements, it would increase the value of the property by about $700. If you spent $10,000 on improvements, it would increase the value of the property by about $7,000.
Does total interior livable area include basement?
It's not usable, so don't include it in square footage. To be considered “living area,” a home's rooms must meet certain criteria — including the basement. Height clearances, whether it's heated, and the presence of windows: all of these make a space livable.
Are basements included in square footage in New Jersey?
A finished basement is not typically included in the overall square footage of your home. This is especially true if the basement is completely below grade, meaning the entire basement is under ground-level.
When can a finished basement be included in the finished square footage of a house?
Does the basement have a finished floor, wall covering, ceiling and heat? If so, then its square footage might be included in the total finished square footage of the house.
How is square footage calculated when a home is listed for sale?
This is a great question and the not-so-great answer is, it depends on the listing agent.
How can buyers protect themselves, and what questions should they ask to get the details on what’s included in square footage?
Potential buyers should be aware that in both Minnesota and Wisconsin, the purchase agreement on a home notes that square footage measurements are approximate.
Does an attic need a certain clearance or entrance in order to be considered within the listed square footage?
Some people wonder if an attic can be included in the finished square footage of a home if there is a pull-down ladder or existing stairway to the space. 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.
How to calculate square feet?
To calculate square feet you multiple the room’s length by its width. For example, a space that measures 10 feet by 10 feet totals out to 100 square feet.
What document includes square footage?
The listing documents, sales contract, and home appraisal report will include the total square footage.
How much value does adding square footage yield?
Home value per square foot varies from state to state, city to city, and even neighborhood to neighborhood. For example, in the Western regions, like California, square footage runs around $190 per square foot, whereas in the Midwest, like Wisconsin, you’ll only get an additional $110 per square foot. That’s a difference of $19,000 versus $11,000 for the addition of a 10-foot by 10-foot room onto your home.
What happens if you underestimate your square footage?
Underestimate your square footage — and you might accidentally agree to sell your home for less than it’s worth. Overestimate your home’s size, and your appraisal may come in low and threaten the sale.
Why is it so hard to measure square footage of a house?
While this may sound simple enough, it can be complicated measuring the square footage of a house due to odd-shaped spaces and living space gray areas.
How high do you have to be to count as a living room?
Most rooms must legally have a ceiling height of at least seven feet to count as living space. Attics often have sloped ceilings thanks to the roof, so only a portion of the room can be counted towards your square footage.
Does attic space count as square footage?
The same is true of finished attic spaces. If the space has sloping roofs, inadequate windows, and forms of egress, then the area may not count towards your overall square footage.
What is detached living space?
Detached living space such as an office in a extra building on the property – these spaces are measured separately. Spaces that are accessed only by traversing non-living space, like an enclosed storage area of a garage.
Does a finished basement add value?
Some spaces, such as a finished basement, may (or may not) add value, but at a lesser rate than other finished (above-grade) spaces. This is determined on a case-by-case basis, based on the quality of the space and how the market has recently responded to similar homes.
Does the roof count as living space?
Not all of the space under your roof counts as living space from an appraiser’s perspective. Some spaces don’t count towards the measured square footage of a home.
Is an attic conditioned space?
Finished attic space as long as it also conforms to the original structure (can’t just add carpet and call it a bedroom) and the ceilings are high enough, and the space is conditioned space because at this point it isn’t actually an attic anymore.
How to calculate square footage of a house?
All you’ll need to get started is a 100 sq ft tape measure, some graph paper, and a pencil.
How many feet of clearance is required for finished attic?
Finished attic square footage is included if an area has at least seven minimum feet of clearance.
Is square footage important to your home?
Finally, remember that while square footage is important to your home value, don’t focus on it at the expense of style or your emotional response to it. Do you like the design and floorplan? How about the location? Are there rooms you absolutely love? Numbers are important, but they are no substitute for the intangibles that make a house feel like a home.
Does square footage matter when selling a house?
If you love a home, does it matter if the 2,000 square foot charmer turns out to be officially 1,600 sq ft in length? Since square footage is used to determine a home’s market value, it can matter a lot. When it comes time for you to sell, 400 fewer feet in measurement can impact the price you’ll get, particularly in a buyer’s market. Which is why we created this guide on how to calculate square footage of a house.
Does basement count as square footage?
Below grade spaces (basements, dens, etc.) do not usually count toward a home’s square footage. Even a finished basement can’t be counted toward a home’s Gross Living Area (GLA) but it can be noted separately in the listings total area.
Is square footage a standard?
Why the conflicting information? Well, the American National Standards Institute (ANSI) guidelines on how to calculate a home’s square footage are considered the standard, but there are no official laws that govern this process. In addition, some Multiple Listing Services (MLS) report all finished and unfinished square footage of a house as a single number, adding to the confusion. Since the rules aren’t standard, some listing agents just post their best guess on a home’s square footage. As a result, buyers and their agents often have to investigate.
What does square footage mean in a home?
Square footage is one of the key details that make a property comparable to another home, which means that you’ll factor square footage into your offer price. Not only could an inaccurate square footage number cause you to pay too much, but it could also cause issues with financing.
What counts as a basement?
For a basement to count, the area must be finished to the same quality and standards as the rest of the house. This means that the walls, flooring, lighting, and other features can’t be noticeably different from the main living areas. Even though Grant has seen agents call basements with green indoor/outdoor carpet and concrete walls “finished,” an appraiser will shake their head “no.”
What happens if you don't include the basement when making an offer?
If you don’t include the basement when deciding on your offer price, you could lose out on a home you love — but make sure you’re careful about how much you think that basement is worth so you don’t wind up with an appraisal problem.
Does the appraiser include basement square footage?
If your appraiser doesn’t include the basement in square footage — but you and the seller did — your potential new home might not appraise. Vince Grant, an experienced real estate agent in Everett, Washington, has seen this happen multiple times throughout his career.
Is a basement included in square footage?
As part of a house, you might assume that a basement is included in the square footage of that home. But that’s not always true! Basements must meet specific criteria to add their area to a home’s total square footage.
Does square footage count as gross living area?
Square footage is also called “gross living area” or GLA, which might be a better way to think about it. If the square footage isn’t livable, it doesn’t count. That section of your basement under the stairs where you can’t even stand up? It’s not usable, so don’t include it in square footage.
Is a basement living area?
That section of your basement under the stairs where you can’t even stand up? It’s not usable, so don’t include it in square footage. To be considered “living area,” a home’s rooms must meet certain criteria — including the basement. Height clearances, whether it’s heated, and the presence of windows: all of these make a space livable.
