Finished Attic Appraisal

What should you do about unpermitted work when buying or selling a home.

Finished attic appraisal.

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. What is unpermitted work. It is calculated by measuring the outside perimeter of the structure and includes only finished habitable above grade living space. Unpermitted work is construction on a home that does not carry the necessary permits to make it legal per local ordinances.

However the ceiling height at its highest point is only 6 6ft. Converting your attic into usable finished space can increase the value of your home by maximizing the available square footage. 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.

Whether you are a buyer or a seller improvements done without permits can prove. So it can feel like a catch 22. Finished basements and unfinished attic areas are not included in total gross living area. Santa clara county doesn t have finished attics but nearby san francisco does.

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. First it wasn t engineered to carry the load that a normal living space floor carries. I wouldn t put a water bed up there. Additions to homes and finished basements are some of the most common.

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. Gross living area is the total area of finished above grade residential 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.