Wood stove = 4 season and GLA

[Kevin L]

Maybe I've had this wrong all along?...

This is in Wisconsin. Have a lender asking me to reconsider a finished, insulated room as a 4 season included in GLA. However, it only has a wood stove as a heat source and there is no cooling source except an A/C window unit (which I know doesn't matter for GLA). I thought a heat source had to be consistent on demand to count (FWA, elec, radiant,HWBB..etc)

 

[JTip]

"connected to a centralized heating source"= gross living area

The four season room may offer value, but would NOT be considered GLA. If your GLA adjustment is $20/sf, FOR EXAMPLE, perhaps the four season room is nice enough and recognized by the market participants to generate a sf value of $19/sf as a SEPARATE LINE ITEM.

 

[Kevin L]

Maybe I've had this wrong all along?...

This is in Wisconsin. Have a lender asking me to reconsider a finished, insulated room as a 4 season included in GLA. However, it only has a wood stove as a heat source and there is no cooling source except an A/C window unit (which I know doesn't matter for GLA). I thought a heat source had to be consistent on demand to count (FWA, elec, radiant,HWBB..etc)

Well yeah it adds value as a 3 season/enclosed porch, which is what I already have it as. They are pressuring me to consider it GLA even thought the WB stove is the only heat source (not a consistent one). They are arguing the heat from the adjacent room would be sufficient through a 36" door. I disagree especially when they have plug in heaters to keep it warm enough in winter...

 

[Mike Ault]

Well yeah it adds value as a 3 season/enclosed porch, which is what I already have it as. They are pressuring me to consider it GLA even thought the WB stove is the only heat source (not a consistent one). They are arguing the heat from the adjacent room would be sufficient through a 36" door. I disagree especially when they have plug in heaters to keep it warm enough in winter...

Is it commensurate in quality with the rest of the dwelling? If it's not, then it would be misleading to pretend that it was. That doesn't mean it doesn't have value, it just shouldn't have the same value as the GLA of the original structure.

 

[sputnam]

Maybe I've had this wrong all along?...

This is in Wisconsin. Have a lender asking me to reconsider a finished, insulated room as a 4 season included in GLA. However, it only has a wood stove as a heat source and there is no cooling source except an A/C window unit (which I know doesn't matter for GLA). I thought a heat source had to be consistent on demand to count (FWA, elec, radiant,HWBB..etc)

Maybe take another look at the definition of GLA. I've never seen any requirement that the heat be central... only the space be heated and capable of being occupied year round.

 

[Lil Rhody]

I think attachment and conformity to the area can be considered when making this determination. If the wood stove is not permanently attached to the dwelling and is the only source of heat in this room, then the room should not be considered GLA.
If the local market does not view wood stoves as a common and typical type of heat source to solely rely on, then the room should not be considered GLA.

If available, what does the property card state? If the local municipality does not consider this area GLA, this would lend support to your determination of GLA.