When we talk about square footage, we’re talking about heated and cooled living areas, commonly known as gross living area (GLA). The following 4 areas are also given value in an appraisal but are calculated and valued in a different manner than the main living areas or GLA.
1. Enclosed Porches – Enclosed porches will most likely not be included unless it has been built as an extension of the home with an equal finish and comparable heating and cooling source.
2. Garage Apartments – You may not get full consideration for a garage apartment unless you provide the right access to it. There are two ways to do this with the first one providing access by way of another finished area of the house. For more click here.
3. Guest Houses – Guest houses are typically built over a detached garage or storage building. Because they are not part of the main residence, they are given value in a different manner and are not included in the overall GLA of the home.
4. Detached “Man Cave” – Most man caves are built in the basement of a home which are given the typical consideration that a basement brings. If you’re looking to add one of these areas to your home, bear in mind that it will not be included in the home’s total gross living area but will be given extra value and consideration as a finished space.