The article explains the nuances of home valuation with a focus on square footage, particularly addressing whether finished basements contribute to this metric. Finished basements, equipped with drywall, flooring, and proper insulation, can enhance usability and increase property value, assuming they meet local code requirements. In contrast, unfinished basements primarily serve as storage or utility areas and are usually excluded from square footage calculations. Real estate practices distinctly categorize spaces based on their location and level of finish, influencing home assessments.
Square footage is calculated from usable living spaces, so a finished basement may count if it meets local building codes, while unfinished basements typically do not.
A finished basement, built to local codes with proper insulation and egress, can significantly enhance a home's livability and potential market value.
Understanding what constitutes livable space is crucial for homeowners and buyers, as it influences both valuation and the functional use of a home.
Real estate guidelines usually distinguish between above-grade and below-grade spaces, affecting whether a finished basement can be included in square footage calculations.
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