Home Buying in Portage>Question Details

carrno523, Home Buyer in 34210

Listing for 4180 Isabelle, zipcode 49024, states 2130 sq ft. The PortageMI.gov website shows this property has 1500 sq ft.

Asked by carrno523, 34210 Fri Aug 17, 2012

Should basement square feet be included in overall square footage of the house? I was always told that:
Fannie Mae guidelines define the square footage of any home as that area which is "above grade," as in above ground level. This means that if you have a 1500 square foot ranch with a finished basement, then your square footage is ...1500 square feet. If you refer to your home as a 3000 square foot home because you put up knotty pine panelling and carpets downstairs in the basement, you are lying about your square footage. Basement square footage is not considered living space when listing a home.
Is this agent being sneaky? Or have things changed and basement is considered living space?

Help the community by answering this question:


This agent is not being sneaky. On our Association rules you can state there is an "x" number of FINISHED square footage as long as you also state the actual square footage above grade. On the actual MLS site, this is shown and broken down into each level and then it's stated that the livable square footage is 1510sqft ABOVE grade and 2230sqft total FINISHED square feet for the whole house. Perfectly within guidlines and Association rules. Good question!
0 votes Thank Flag Link Fri Aug 17, 2012
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2016 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer