Judy Whitehead (Florida)
Senior Member
- Joined
- Jan 20, 2002
- Professional Status
- Certified Residential Appraiser
- State
- Florida
We have an appraisal assignment for an individual, who plans on getting refinanced. Presently, he is our client. The subject is a large SFR on 2.5 acres, agriculture/residential zoning. The zoning permits him to care for up to 5 adults without a change in zoning. The county does require him to have an occupational license.
The question is.....do we mention the "adult care" being done in the home and state that we did not consider the income from this care, nor do we feel it affects the market value estimate? Or do we just treat it as a regular residential appraisal, since it is permitted under current residential zoning. We don't feel that it affects the value one way or the other. The floor plan is functional either as it is being used, or as a single family residence. It may cause a potential problem for the homeowner if they get a lender or underwriter who doesn't understand and has blinders on.
This is kind of like a post I started before with packed boxes sitting around on the floor. When does it become someone else's business what people do in their home?
The question is.....do we mention the "adult care" being done in the home and state that we did not consider the income from this care, nor do we feel it affects the market value estimate? Or do we just treat it as a regular residential appraisal, since it is permitted under current residential zoning. We don't feel that it affects the value one way or the other. The floor plan is functional either as it is being used, or as a single family residence. It may cause a potential problem for the homeowner if they get a lender or underwriter who doesn't understand and has blinders on.
This is kind of like a post I started before with packed boxes sitting around on the floor. When does it become someone else's business what people do in their home?