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FINISHED BASEMENTS

Hi, I own a home in Connecticut. It has 3 bedrooms, and 3.5 bathrooms. My question is this: In Connecticut, can basements be counted in the square footage? My basement has heating, central air, a window, and a door, so it is a walk out basement. Also, can the rooms inside the basement be added to the number of total rooms? Without my basement I have 6, however with the basement I have 8. Thank you very much!
Sat Apr 19 2008, 09:27 - 06107 - Home Selling - 6 answers
 
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Matt319
Just Looking
Matt319, Just Looking in
Answers (6)
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Donna Spring… was FIRST TO ANSWER
As you know, "below grade" is not counted, but you have an "above average" chance of selling over your competition because of the "bonus" basement square footage. (It is all in the marketing, and presentation.)

Your house may have the feel of a bigger home because of the additional lower-level living space, but may not have the "high taxes" of a home that has the same square footage above grade. There's a plus!

When marketing a property use your "positive perspective".

Tue May 6 2008, 18:25
Web Reference: http://www.RuthmanRE.com
 
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Everyone has already given you the straight answer - below grade is not counted. that said, if you're worried about the resale value of your home, the best thing to do woul be to find a real estate agent (like myself) who can do a market price analysis for you to determine the best selling proce for your home. Good luck, and if you need anything, let me know.

Mon Apr 28 2008, 21:02
Web Reference: http://www.ilmct.com
 
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Hi, as others have said, since basements are below grade most towns do not count them in livable space, but if the basement is finished with walls or a basement wall system and a permit is filed with your town, it may be counted in square footage. If you would like more information on basement finishing or systems I actually have knowledge of that process. Please contact me with any questions.

Fri Apr 25 2008, 06:04
Web Reference: http://www.elsells.com/
 
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Donna is correct. Basements are not included in the GLA (gross liviable area) because they are considered below grade. They may or may not be included in the total square footage on record depending on how your assessor views them for tax purposes. When your property is being appraised for a refi or a sales transaction the basement is considered as storage and is valued differently than the above grade portion regardless if it is finished or not and regardless of its use. Your states appraisal board may interpret the regulations differently if your type of basement set up is common. You may want to consult with an appraiser in your area for what is considered acceptable or normal procedure for your property type.

Mon Apr 21 2008, 09:05
 
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Check with West Hartford's building dept and the assessor. If the town is counting it as finished space then the answer is definitely yes. If not, then the answer to your question really depends. If the space is in great condition, then your agent could definitely market the finished space but you may or may not be able to count it as much as you would finished space above ground. Your agent would have to review comparables in the area to determine the value of a finished walkout basement and add that to your asking price.

Mon Apr 21 2008, 06:26
Web Reference: http://berealct.wordpress.com
 
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FIRST ANSWER
Hi Matt,
From my understanding to determine "living space" the area must be above ground level. Which is why raised ranches show up well. However, towns tend to vary on some of issues as to how to record a finished lower level. I did have the town add a bedroom and bath (in my basement) to the number of rooms but it did not change living sq. ft. Basements are included in total square footage. If you want to see how your house shows up on town records go to http://visionappraisal.com/ and go to your town and put in your street address. It will show total sq. ft and living space..

If I can be of any further help, feel free to contact me.

Sat Apr 19 2008, 13:37
 
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Check out more Home Selling questions in 06107...

Gary McIntosh, Real Estate Pro in Fairfield
OIL TO GAS
Answered Tue May 13 2008, 18:23 by Gary McIntosh in 06107
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