Is a Basem*nt Included in the Square Footage of a Home? (2024)

FAQs

Is a Basem*nt Included in the Square Footage of a Home? ›

As a general rule of thumb, listing agents and appraisers don't count a finished basem*nt toward the overall square footage, especially if the basem*nt is completely below grade—a term that means below ground level.

If you have a finished basem*nt, it should be considered part of the square footage of your home. The key word is “finished”. An unfinished basem*nt is not ever going to be considered when calculating square footage. This can get tricky and many homeowners can get confused when trying to calculate.

Garage and basem*nts aren't usually included in the square footage of a house. This is often true even if the basem*nt is finished because it's below ground level. However, some states do allow you to include finished basem*nts when they have safe ways to enter and exit.

Any space inside a home that has walls, a floor, a ceiling and heat are usually counted toward the overall square footage. However, if there are closets that don't meet the requirements, like in an unheated, unfinished basem*nt, they probably would not be counted.

Spaces like garages, three-season porches and unfinished basem*nts or attics are not included in the square footage of a house. But if a basem*nt or attic has been “finished,” then the space may be included in the home's square footage if it also meets ceiling height requirements.

When house plan sellers refer to Total Living square feet, they are referring to the “living area” of the home. This can be thought of as the area that will be heated or cooled. It is called the living area because this is where you spend your time. An attic, while a useful storage area, is not living space.

Basem*nt

Your new furnace should have enough heating capacity to meet your current and future heating needs once you update your basem*nt. If your basem*nt is finished, that space needs to be included in your square footage calculation, even if you rarely use the space.

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.

Below-grade living space is worth about half that of above-grade living space. So, if the price per square foot in your area is $150, your basem*nt price per square foot would be $75. Appraisers may also calculate the price per square foot for the entire home, then divide it by the gross living area.

For a quick estimate of the amount of insurance you need, multiply the total square footage of your home by local, per-square-foot building costs. (Note that the land is not factored into rebuilding estimates.)

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.

Living square feet includes all of the air conditioned living area. Total square feet includes living square feet + porch + outdoor area + garage.

Total living area typically includes any finished basem*nt space or possibly an accessory dwelling unit. There is a general rule of thumb, that if any portion of the finished space is below grade the entire area is considered below grade.

So, what constitutes as a finished basem*nt? A basem*nt is finished when the entire level is complete and similar to the upstairs living areas. It generally includes an electrical system, heat, finished floors, an accessible entrance/stairway, level ceilings, and finished walls.

Generally, appraisers and listing agents don't count a basem*nt toward the overall square footage of a home. Most appraisers will never count a basem*nt if it's below grade, meaning it is beneath ground level.

Well, it depends on who you ask. “There's an appraised value and then there's the consumer value,” says Terrell. “It's been said that an appraiser will give 25% per square foot of the above-grade value to the finished basem*nt.”

With some smart decorating and thoughtful purchases, living in 500 square feet is very possible. In fact, it can even feel comfortable and cozy. So, instead of worrying about the lack of space, embrace what you have, get creative and settle in by making every last inch your own.

Gross living area does not include unfinished spaces (e.g., exposed floor joists, wall studs, and roof rafters) or unlivable areas (e.g., stairwells, stair landings), either above or below grade. Therefore, any area, either partially or fully below grade—like a walk-out basem*nt—is not recognized as gross living area.

We asked Lil Petrusnek, the Southern Living House Plans Manager, what's the best size for a house. We weren't too surprised with her response: 1,500 square feet is the perfect size for a house. Here's what Petrusnek says about how to make the most of your space in a 1,500 square foot home.

An unfinished basem*nt is not included in a home's square footage. In fact, in the few cases where a basem*nt counts toward a home's gross living area (such as some walkout basem*nts), the finishes must match the standards and quality used in the rest of the house.

Do basem*nts need air conditioning? ›

Whether you have an unfinished cellar for storage or a fully-finished man cave or rec room for a basem*nt, cooling is a must in the summertime. Even if you're not down there too often, air conditioning affects your comfort and air quality throughout the rest of your house.

HVAC code and permit considerations for finishing basem*nts

If basem*nt windows are not available or existing windows don't provide the required amount of natural ventilation, you may be required to install a mechanical ventilation system for the health and safety of occupants.

An agent may calculate square footage based on how much living space there is—in other words, areas of the home that are heated such as the kitchen, bathrooms, bedrooms, and so on. The appraiser, on the other hand, evaluates the total value of a home.

You can consider legal action against the seller, their agent, or even your agent, but it would be very hard to win such a case. Verifying square footage is generally the buyer's responsibility as part of the due diligence process, and winning the case would require proving fraudulent intent or other legal wrongdoing.

Cost: When talking about cost per square foot, we're talking about the hard construction cost, which is the cost from the builder. Included in this cost are material and labor costs and the builder's overhead and profit.

To maximize ROI in your finished basem*nt, Jones recommends “adding at least one bedroom and bath while keeping everything as open as possible.” The open space will give buyers the ability to envision themselves there, but adding a bathroom and bedroom can raise the value of the below-ground square footage.

New homeowners have their financial limits when it comes to adding any “nice-to-haves”. This may be a reason why basem*nts are often left unfinished. Yet homebuyers have many reasons to extend that extra money to finish this often-neglected part of the home.

Adding a basem*nt bathroom can increase your home's resale value by 10%-20%. It also can turn a wasted space into an enjoyable addition to your home. The average basem*nt bathroom will cost $3,000-$25,000, depending on the existing plumbing and condition of your basem*nt.

The 80% rule dictates that homeowners must have replacement cost coverage worth at least 80% of their home's total replacement cost to receive full coverage from their insurance company.

What causes high home insurance? ›

Several factors are behind the rising rates. Severe weather events continue to cause serious damage and costly insurance claims. The rising cost of building materials, supply chain issues and unfilled jobs are driving up the costs of home repairs.

Bedroom adjustments are typically only made when the bedroom count limits the functional utility. A typical suburban home will have between 3 and 5 bedrooms above grade. As long as it has 3 bedrooms I do not adjust, unless the evidence is clear that an adjustment is warranted.

4 bedroom, 3 bath, 1,900-2,400 sq. ft.

What Rooms Are Included in Square Footage? Rooms that will typically be included in a home's square footage are any finished rooms that have a ceiling, walls, and a floor, such as living room, bathrooms, kitchens, bedrooms, and finished basem*nts.

Keep in mind, square footage of a house does not equal the square footage of a roof.

If you are ready to have your home appraised, you should address any significant issues that may affect your home's value—such as damaged flooring, outdated appliances, and broken windows. A messy home should not affect an appraisal, but signs of neglect may influence how much lenders are willing to let you borrow.

Appraisal

They'll look at square footage and bedroom counts. For appraisers, it's not the number of bedrooms that matters, but the amount of square footage that impacts a home's value. While this does vary from market to market, typically a bedroom addition adds appraisal value only if it increases the square footage.

Age. One more factor that's out of your control in a home appraisal is the age of your home. The older your home, the lower the appraised value. Newer homes (in the last 10-20 years) have been built with more updated building codes and are unlikely to have issues.

How Much Value Does a Finished Basem*nt Add? In the US, finishing a basem*nt will give you a return of 70 to 75% of your investment. That means if you spend $10,000 on improvements, the value of your property will increase by about $7,000.

A full basem*nt is one that matches the perimeter of the house above. So, if the ground floor of the house is 800 square feet, the full basem*nt's square footage is also 800 square feet—more or less.

Is it OK to live in an unfinished basem*nt? ›

Assuming it's not rendered unlivable by conditions like mold-infestation or regular flooding, an unfinished basem*nt can be turned into useful living space without the time and expense involved in actually finishing it. In fact basem*nts are well-suited to much more than storage, and can be converted to: Home gyms.

Does a basem*nt count toward overall square footage? As a general rule of thumb, listing agents and appraisers don't count a finished basem*nt toward the overall square footage, especially if the basem*nt is completely below grade—a term that means below ground level.

A common rule of thumb is that basem*nts that are entirely underground do not count toward square footage. Basem*nts that have some exterior walls above-grade may be included in a home's square footage.

BAsem*nT FINISHING DEFINED

In order to complete a basem*nt finish, your current space usually lacks drywall, insulation, plumbing, and flooring. Basem*nts that are partially finished may have drywall and electricity installed, but still require substantial work to be completely finished.

An “unfinished” basem*nt is what it sounds like. It doesn't have the cozy feel to it, and probably not an area you would entertain in and instead has : Pipes and beams exposed- there is no covering by ceiling tiles or hidden.

Because basem*nt bedrooms are not accounted for in the gross living area space, they are valued separately as an additional line item on an appraisal. As such, you can expect the value of a basem*nt bedroom to be in the range of 50%-70% of the value of a traditional above ground bedroom.

Gives You More Space

One of the most popular reasons to opt for a finished basem*nt is because it adds a whole new livable floor to your home. Unfinished, your basem*nt is usually reserved for storage. Finished, it becomes an extension of your livable home, with new rooms to create however you see fit.

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 basem*nt is below grade, the entire level will typically be excluded from the calculation of the home's square footage.

Does a finished basem*nt count as square footage towards my home? A. In Michigan, space that is not fully above grade does not count towards the overall square footage of your home. However, basem*nts that have a high quality finish can add substantial value to your home and are extremely desirable to potential buyers.

To put it in legalese, a basem*nt is “a building story that has at least one-half of its floor-to-ceiling height above curb level or the base plane,” in the words of NYC Planning. And this space is included in floor area calculations — aka the square footage of the building.

Can you count unfinished basem*nt in square footage Colorado? ›

What Areas are Included? Not all areas of a property are included in the square footage disclosure. Unfinished basem*nts, garages, patios, decks, and walkways are not included. Some owners have even asked whether they include to the exterior walls, or the interior walls.

To calculate the square footage of a 2-story house, simply measure every room in the house. Exclude any unfinished areas, such as the garage or an unfinished basem*nt. After measuring each room individually – including the closets in each room – combine the measurements from all rooms.

No, it is not - that would be a one story. When we are talking about how many stories a house is, we should only use the “above grade” floor count - basem*nts and cellars are not to be counted as “levels” even if fully (and well) finished.

Gross living area (GLA) is not the same as total living area (TLA.) Total living area typically includes any finished basem*nt space or possibly an accessory dwelling unit. There is a general rule of thumb, that if any portion of the finished space is below grade the entire area is considered below grade.

How to find square feet: multiply the length measurement in feet by the width measurement (in feet). This yields a product called the area, which is expressed in square feet (or square inches if you are calculating a much smaller space, such as a dollhouse).

What Rooms Are Included in Square Footage? Rooms that will typically be included in a home's square footage are any finished rooms that have a ceiling, walls, and a floor, such as living room, bathrooms, kitchens, bedrooms, and finished basem*nts.

Generally, appraisers and listing agents don't count a basem*nt toward the overall square footage of a home. Most appraisers will never count a basem*nt if it's below grade, meaning it is beneath ground level.

Yes. You can also build a basem*nt bigger than the house above. Very confusing when I've been in them.

Typically homes with a walkout basem*nt appreciate in value faster than a home with a standard basem*nt. As many families see the benefit in having the increased living space and flexibility that a walkout basem*nt affords, this type of home design continues to be in high demand.