Allowable Square Footage

[Pamela Crowley (Florida)]

Good for you! I commend you for researching and learning!!!

Good luck!

 

[Sean Wagle]

Just warming this thread back up.

It sounds like the appraisers here are saying that a permitted attic/garage loft with exterior stairs, built with fit and finish similar to the rest of the house, "has value", but is "not part of GLA".

So how much of the construction cost of one of these conversions, usually remains as value? Is 80 cents on the dollar realistic? 60?? less??

 

[wyecoyote]

Sean that really depends on the area. There is no text book case of how much dollar spent % return on investment their is. Mostly depends on the area, quality, condition, and function. Some are no better than finished attics/storage space and would be considered as such. I have appraised finished attic areas over garages that were used for storage others used as rec rooms, home offices, work shop areas, or some other uses that can not be stated on here without breaking forum rules. It all depends on the market and what potential use it could be for.