prasercat
Senior Member
- Joined
- Oct 24, 2007
- Professional Status
- Certified Residential Appraiser
- State
- Colorado
There is the rule to measure square footage from the exterior of a detached single family home. However, interior Fireplaces that take up interior space, are subtracted from footage. If I extrapolate the logic behind removing Fireplaces to living area square footage, then a basement knee wall should then be subtracted; however, the logic behind the first rule indicates I should ignore it.
I think it is common to ignore the fact that basement walls are thicker than GLA, since there is first the basement concrete wall thickness combined with an interior framing and insulation, which together makes the basement level smaller than the GLA above, even if they occupy the same footprint; however, I don't think it is common to account for this difference, so using this logic, knee walls would be ignored.
I've been conflicted regarding this concept for a very, very long time- any opinions. I suspect this is being handled in different ways by different appraisers. My opinion, is that it is more proper to ignore them, otherwise, we would have to account for the thicker basement concrete walls that occur when they function as both a retaining wall for a hillside and a basement wall and which only typically affects a part of the basement. I think it goes down the path of "thinking too much".
I think it is common to ignore the fact that basement walls are thicker than GLA, since there is first the basement concrete wall thickness combined with an interior framing and insulation, which together makes the basement level smaller than the GLA above, even if they occupy the same footprint; however, I don't think it is common to account for this difference, so using this logic, knee walls would be ignored.
I've been conflicted regarding this concept for a very, very long time- any opinions. I suspect this is being handled in different ways by different appraisers. My opinion, is that it is more proper to ignore them, otherwise, we would have to account for the thicker basement concrete walls that occur when they function as both a retaining wall for a hillside and a basement wall and which only typically affects a part of the basement. I think it goes down the path of "thinking too much".