Property Q&A in Attleboro>Question Details

Bill White, Home Buyer in 02703

Can you include the sq ft of a finished basement in a raised ranch as livable space?

Asked by Bill White, 02703 Tue Sep 1, 2009

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This question is about this property: http://www.trulia.com/property/1081963120-27-Sunset-Ln-Attle…

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Yes, as long as it is disclosed in the listing. A bank appraiser, however, may not count the lower level in the square footage. This can make it difficult to obtain financing. I would suggest you consult with a real estate professional to see what similar homes have sold for...and what type of financing those buyers used.

Good luck!
1 vote Thank Flag Link Tue Sep 1, 2009
Yes you can as long as it is disclosed in the listing.
An appraiser will give more value if is above grade living space.
It is also a good idea if you are listing the space to say whether it has windows or a walkout basement.
0 votes Thank Flag Link Tue Sep 1, 2009
Hello Mr White,

I recently read an article that there is no law anywhere in the country that defines what you can or cannot as square footage of a property. I do not remember the source of the article. I would caution that just because there may not be a law or ordinance, does not mean that there is not a guideline or standard of practice in your town. You should check with your building inspector, Assessor and Town Clerk to make sure they do not have any guidelines.
Typically a lower level on a raised ranch does have an area that is considered living space.


Ray Cardoza
Keller Williams Realty
508 558-9619
RCardoza@KW.com
0 votes Thank Flag Link Tue Sep 1, 2009
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