Townhouse With Garage V Townhouse With Basement

[Riick]

Do we call this a conundrum?

Call it a Conundruminium, as in a small (minimum) puzzle. <all puns intended>
The thing of it is that these could be called a 2-sty w/partially finished basement & basement garage, or, just as easily a 3-sty ON SLAB, with built-in garage. 3-sty is actually more descriptive, since most of the time, the earth is just bermed up against the foundation wall at the front or rear.
Consistency is key, no double dipping.

 

[residentialguy]

One end of the building is all above grade the other end is slightly below grade due to a gentle slope. What I have found or not found might be a better way to say this, ist market reaction is ZERO from one end to the other. The exterior/interior finish will be identical on all levels.
Do we call this a conundrum?

You call the design what it is. You're right...That little bit of dirt missing on the basement level doesn't change a thing.

 

[residentialguy]

3-sty is actually more descriptive, since most of the time, the earth is just bermed up against the foundation wall at the front or rear.

The problem with doing it that way is that it doesn't function like a 3 story on slab. It functions like a 2 story with a partial basement. That lower level is an extra den, bath, bedroom, etc. (and could easily be an unfinished area with a utility room...just like any other 2 story with a finished (or not) partial basement. 3 story homes, the main entrance enters on the main level where the kitchen is typically located.

I always say, "hold the house model in your hand...now what kind of house is it. When you are walking around in that house, what does it function like? Now get other homes that function like that with similar foundation size & GLA"

 

[Terrel L. Shields]

I am glad our local builders are not stoners. Extraordinarily rare to see anything similar.

 

[Riick]

I am glad our local builders are not stoners.

Given the builders I've known, the likelihood yours are not stoners is somewhere between Zero and None.

 

[Carnivore]

You call the design what it is. You're right...That little bit of dirt missing on the basement level doesn't change a thing.

If you recall we had a similar discussion recently about split foyer detached SFR. Some of them had the Kit, LR, DR etc. on the lower level which was below grade per FNMA definition(or common sense says it is). The only real difference were some detached SFR were flipped; the BR were all on the lower level(below grade) and Kit, DR, LR on upper level.

So it doesn't matter whether it is attached, semi detached or detached/free standing. Condo or SFR. We have some strange residential buildings out there. For that matter sometimes it is absolutely nonsensical when you see a weird one. Why did the builder do that? Don't know why, I guess its because this is a big world and it takes all types. If you have been doing this for more than few years everyone gets one of the weird ones to appraise. If you haven't then wait awhile you will. LOL

I have seen some attached SFR where the main entrance(street side) was located on the 1st level and at the rear was a garage. alongside is a BR w/FBA and office. So you enter at ground level into the lowest level and walk up steps to the KIT, LR, DR. Above that was a third level with more BR and FBA. This is rare but it does happen.

Maybe I can find one and show the pix of these examples.

But it's all not a big deal anyway. Unless you are short of comparable and have to go to another complex and it is nothing like your subject complex.

 

[residentialguy]

We have some strange residential buildings out there. For that matter sometimes it is absolutely nonsensical when you see a weird one.

I agree. One never ceases to wonder. On those, all bets are off and you gotta break every guideline and have a direct link to the Pope.
What I am talking about is the typical setup and normal functioning type of home that is in 99.9% of the homes where everything from the kitchen level on up is counted as GLA. Below that functions as a basement and compare them like that with your subject and comps. Don't worry about the grade line. Make that a line item adjustment if it affects value.

 

[TRESinc]

Well apparently things are done differently around the country.........Apparently it seems that some of you call the finished area beside the garage on the lowest level as finished basement even though its all above grade. I cant imagine why anybody would do that. especially when ANSI is pretty clear on what's GLA and what's not.

ANSI standards are nice but they are not the end-all-be-all when it comes to calculating GLA. for example in the two counties i cover a split level (using local terminology, see photo below) is not only marketed differently by agents but assessed differently by the county auditors. in one county the partially below grade level is basement (finished or not) and in the next county it is considered living area. been like this for more than 40 years.