Finished Attic Appraisal

Unpermitted work is construction on a home that does not carry the necessary permits to make it legal per local ordinances.

Finished attic appraisal.

I don t see how a finished attic can be included in gla unless there are permits. According to the nar 2019 report converting an attic to a living area nets an average 56 roi a higher return than adding a new bathroom or more than adding a new master suite. It is calculated by measuring the outside perimeter of the structure and includes only finished habitable above grade living space. If your home is smaller than other homes in your area or simply lacks the necessary amount of storage or living space for your family finishing your attic is a relatively inexpensive way to increase your usable space.

However the ceiling height at its highest point is only 6 6ft. What is unpermitted work. First it wasn t engineered to carry the load that a normal living space floor carries. Santa clara county doesn t have finished attics but nearby san francisco does.

Some people wonder if an attic can be included in the finished square footage of a home if there is a pull down ladder or existing stairway to the space. Additions to homes and finished basements are some of the most common. Whether you are a buyer or a seller improvements done without permits can prove. I have a finished attic stairs walk in closet full bath and bedroom.

Finished basements and unfinished attic areas are not included in total gross living area. Gross living area is the total area of finished above grade residential space. I wouldn t put a water bed up there. So it can feel like a catch 22.

When i had the appraisal done the appraiser noted that due to the ceiling height the area would be valued separately and at a lower rate. Fha hud guideline handbook 4150 2 states. What should you do about unpermitted work when buying or selling a home.