Clarification of Effective Year Built

[CT Remodel 1998]

I am seeking info re use of "effective year built" to properly (I think) represent my property. In late 1996 I purchased a 3000 sf cape actually built in 1958. We began extensive remodeling (house was correctly deemed uninhabitable during renovations), and a new Cert. of Occupancy was issued in Feb, 1998. Renovations to create a 3 story colonial included: expansion from 3000 sf to over 5600 sf; old construction stripped to framing inside and out (approx. 20% of old sf was demolished, the balance incorporated in new structure; all new windows/doors, insulation, siding, and HVAC; electrical brought up to code through out. All new kitchen; expansion from 3 baths to 5 full & 2 half baths (all new); New footprint required 102 ft of new perimeter foundation; 120 of old foundation was used. Landscaping includes 110 lf of terraced stone walls and 1800 sf of patio which did not previously exist.

I think this is sufficient to justify using the date of the CO (1998) as an EYB. What guidelines exist here as I realize there is no legal definition (to the best of my knowledge).

 

[David Mescon]

The effective age of a home is a combination of two elements. The first, and obvious element being physical deterioration, and the second, functionality. The first element is obvious - what is the overall condition of the structural elements of which the improvements are comprised. The second element is somewhat more subjective in nature. For example, although a three bedroom home with one small full bath may have been considered perfectly adequate when a home was originally constructed in 1935, it would likely be considered less desirable in most markets today, where purchasers expect more baths, and larger ones. The Victorian "water closet" concept - with (usually) one, very small bathroom, is no longer prevalent in our culture. The concept of functional utility is a dynamic one and changes over time.

As a home's effective age is a combination of two elements, one of which tends to lend itself to quantification more readily than the other, determination of such is inexact art. Your premise that the effective age of your home should be considered to be the same as the year of your remodel is conceptually flawed. A substantial amount of the original elements, including foundation and framing, were retained. These elements have been deteriorating physically from the time the original home was built. As for the functionality's contribution to the home's effective age, only someone with direct local knowledge of your market could be qualified to make such a determination. Is your home functionally inadequate? Is it functionally superadequate? These are questions that require intimate knowledge of your neighborhood to answer.

It is possible, that your remodel was performed in a manner which was forward thinking enough to be somewhat ahead of its time so to speak, in which case, when combined with the substantial physical improvements might actually result in an effective age at, or even less than the number of years since your major remodel. There are just way too many variables and unknowns for anyone here to determine by remote control. Good luck!

 

[CT Remodel 1998]

Effective Year Built

Many thanks for feedback on EYB question. Clearly there are a number of factors and judgments involved. I gather the building department's requirement for a CO may be a factor, but is far from conclusive in determining a EYB designation.

 

[DonRico]

CT --

Did you get a full "Teardown Permit" when you started your project ?? This may allow you to reset the Year Built to 1998.

In New Jersey, they grant a 5-year Tax Abatement for Capital Improvements to older structures. They require at least one original wall remain standing (sometimes this wall conveniently falls and gets replaced as new, but this IS New Jersey after all). But a major upgrade like this would not affect the Year Built. Stays as the original construction date.

There's really no such term as Effective Year Built, that I know of. There is an Effective Age, which is exactly as David has described above.

But if you're looking to date your home as built in 1998.....you're probably going to have to produce a Teardown Permit.