Interior Basement Access

[mkjprice]

I am in Utah and basements are quite common in all ages of homes. Just looked at a property just recently completed its new construction, and has a full height basement, but access is only through the garage. It is a regular set of stairs, but is not contiguous to the GLA. You have to exit the GLA to the garage, and then go down stairs.

I have come across this one other time on a newer home, and I called it crawl space, as I saw somewhere that Fannie Mae required interior access. I cannot find that statement again, and I still think I am correct, but I don't want to assume if this has changed due to ANSI - it could be used as an ADU - but does not have a kitchen.

 

[Dublin ohio]

I am in Utah and basements are quite common in all ages of homes. Just looked at a property just recently completed its new construction, and has a full height basement, but access is only through the garage. It is a regular set of stairs, but is not contiguous to the GLA. You have to exit the GLA to the garage, and then go down stairs.

I have come across this one other time on a newer home, and I called it crawl space, as I saw somewhere that Fannie Mae required interior access. I cannot find that statement again, and I still think I am correct, but I don't want to assume if this has changed due to ANSI - it could be used as an ADU - but does not have a kitchen.

I know of no FNMA guideline that requires interior access to be called a "basement". What you have is a functional issue. IMO. Calling it a crawl space would be misleading. Crawl space is typically just that. An area that you have to "crawl" through.

 

[Meandering]

it could be used as an ADU - but does not have a kitchen.

Accessory Dwelling Units (ADUs) | Fannie Mae​

While the ADU may or may not include access to the primary residence, it must be accessible without going through the primary residence and there must be some expectation of privacy from the home. ADUs can be Within a primary residence, such as a basement apartment Attached to a primary residence, such as a living area over a garage

 

[glenn walker]

I am in Utah and basements are quite common in all ages of homes. Just looked at a property just recently completed its new construction, and has a full height basement, but access is only through the garage. It is a regular set of stairs, but is not contiguous to the GLA. You have to exit the GLA to the garage, and then go down stairs.

I have come across this one other time on a newer home, and I called it crawl space, as I saw somewhere that Fannie Mae required interior access. I cannot find that statement again, and I still think I am correct, but I don't want to assume if this has changed due to ANSI - it could be used as an ADU - but does not have a kitchen.

It a basement-A Crawl Space can not be walked in from stairs most are like 2 to 3 feet high. And there is no Fannie Guideline on this , What would a buyer use it for ? certainly it has utility value.

 

[mkjprice]

It a basement-A Crawl Space can not be walked in from stairs most are like 2 to 3 feet high. And there is no Fannie Guideline on this , What would a buyer use it for ? certainly it has utility value.

It absolutely has Utility Value, but it is not market typical for there to be no interior access for this. I am thinking just a line item adjustment instead of a basement adjustment with similar basement adjustments to account for the function issue, but still give it utility value.

 

[glenn walker]

It absolutely has Utility Value, but it is not market typical for there to be no interior access for this. I am thinking just a line item adjustment instead of a basement adjustment with similar basement adjustments to account for the function issue, but still give it utility value.

That will work

 

[Terrel L. Shields]

I'd call it a basement and be done with it outside of commenting upon the access. FNMA does not define basement. It counsels against including it as GLA.

 

[J Grant]

It has a basement, just accessed thru garage stairs instead of int of dwelling stairs. Maybe make a functional obs adjustment for access, but it is still a full height basement. A basement would not be counted as part of main level GLA anyway -