FHA Basement Egress Issue

[AnonApprsr]

Well you don't have bedrooms. You can call them whatever you want, and you can even note they appear to be used as sleeping quarters.

 

[Michigan CG]

Okay, so then I have an office, study, family room and den in the basement in addition to my above grade living room and sitting room off the main bedroom? Okaaaay.

That is what you have. We are not the "where does Johnny sleep" police.

 

[Thomas Fiehler]

I feel sorry for the property owners that have installed glass-blocked windows in their basement. I tend to agree with others in that the stairs provides enough egress.

 

[Walter Kirk]

The basement is finished but it is not GLA.

 

[Mike Boyd]

Okay, so then I have an office, study, family room and den in the basement in addition to my above grade living room and sitting room off the main bedroom? Okaaaay.

That would create functional obsolesence. The windows must be changed to meet MPS. As a practical matter, the window wells would have to be enlarged (they gotta be at least the size of the window. What makes you think the windows were installed backwards? It's moot, anyway, as they will be changed. Window or exhaust fan needed for bathroom. (No such thing as a 3/4 bath. If you can wash your body it's a full bath.)

 

[Verne Hebert]

Let me ask you this question. How many basements above grade? And what would the markets logical use of these basement rooms be?

Here, older raised ranch with non-compliant egress windows are as common as long days of summer. The market pays for the space; the recognizes the typical use. And this is below grade is not considered GLA, but finished basement area.

I will tell you what. If kids die down there in a fire, you are going to court.

Iron out the wrinkles how you choose. It sure sounds like you have non-compliant bedroom egress windows.

 

[Vermonter]

I will tell you what. If kids die down there in a fire, you are going to court.

Which is why we don't call them bedrooms.

Why is this so complicated? We interpret the market value of the below grade space and it's compliant use. Doesn't matter if there are 20 bunk beds in every room, if the windows aren't up to snuff, we don't VALUE them as a bedroom.

 

[Verne Hebert]

We don't value them as a bedroom. If the market values them as a bedroom, we value them as a bedroom.

I have one of these coming up next week. A family neighboorhood. Homes built in the 70's. One bedroom and one bath on the first level (GLA). In the basement utility, family with wood stove, two bedrooms, one bath.................and non compliant egress windows.

We don't value them as bedrooms? Where do the kids sleep?

 

[Vermonter]

We don't value them as a bedroom. If the market values them as a bedroom, we value them as a bedroom.

I have one of these coming up next week. A family neighboorhood. Homes built in the 70's. One bedroom and one bath on the first level (GLA). In the basement utility, family with wood stove, two bedrooms, one bath.................and non compliant egress windows.

We don't value them as bedrooms? Where do the kids sleep?

So you're saying your market would give them the same value as compliant bedrooms because there is only 1 bed upstairs? Or that there is no value difference between a basement bedroom and a den, so you'll just call it a bedroom?

By that logic, if the market extraction is the same then carports can be garages? Decks can be porches?

I'm not following you at all here.

 

[Verne Hebert]

The first thing I am saying is the bedrooms in the basement are a fact-they are bedrooms, with closets. These homes have 4, 5, or 6 people who live in them. So, in the rare instances when there are two bedrooms in the first level (the up/down area ranges from 900 to 1300sf), the bedrooms in the basements are still used as bedrooms, generally.

In terms of valuation, it is rare in this area that the contributory value of this style of basement lends equal value to the first level (but this is academic). We are unable to isolate a bedroom adjustment in either the first level or the basement and GLA and basement areas are adjusted in sum, which can be measured.

However having said that, in April of this year I work on a property (that is down the street from the property I will see on Friday) that demonstrated full contribution of the basement area---this was the first time in 18 years here that I have seen this, but generally the basement contribution with significant---70 to 85 % of the GLA incremental value......And the reason is, quality of construction and utility is not equal to GLA, ie egress, windows, ceiling height, etc.