Gross Living Area Definition

[Randy Beigh]

I agree with Pamela. It needs to be accounted for, but it should/would be easy to do it as a separate line item.

Depending on the market reactions, it may even be worth the same or similar as the GLA, but it isn't GLA.

 

[OCApp]

is it permitted as living area???? if it isn't would comment on it andprobably not value it.

if it is permitted, i would most likely value this square footage separately from the main GLA. How big is it, meaning does it change the 3 car garage into only a 2 car garage or if built in the middle of the garage maybe into a 1 car garage???? if because of this area your subject garage is now below what is considered typical that could be a problem also. if you now have a one or two car garage vs. comps having 3 car garage, would have to adjust for this also.

 

[GeorgiaBoy]

No

 

[Tim Juska]

In order for me to consider the area part of the GLA, I would see that the quality of finish is consistent with the remainder of the house and is contiguous with the floor plan.

If it is not contiguous with the house and/or has a lower quality of finish, I would probably not count in in the GLA. To count it would likely result in a functional inadequacy in the floor plan for which you may have to adjust for. In addition, your garage count would be lowered by one space which could also have an impact on the value.

Does the increase in square footage offset the functional issue and loss of a garage space? If not, I would just explain what is present and state whether or not the area could easily be converted back to its original state.