A real estate appraiser’s job requires them to estimate the square footage accurately, and their work is mainly dependent on the inside of a house. Therefore, they may disagree with the listing agent’s square footage, which they often base on the official “living space” of a home instead of the total area of a house. In some cases, a real estate agent will estimate the square footage based on what is heated in a home, not on the living space alone.
Gross Living Area is the total area of finished, above-grade residential space in a home.
GLA is the total area of heated and cooled interior spaces in a home, including garages, basements, unfinished attics, and any earth adjacent to exterior walls. Including these spaces will increase the overall value of your home, as will its selling price. There are several ways to measure GLA, including using a tape measure, hand drawing, or computer program.
First, check the real estate listings for the square footage of the house. Many people don’t measure the walls and individual rooms. In addition, some appraisers copy the wrong number from the listing. You must calculate Gross Living Area correctly if you plan to sell your home in the future. Remember, the total area of finished, above-grade residential space in a home should be 2,200 square feet.
When listing a home for sale, most agents and the residential appraiser Dallas, TX MLS services use the gross living area reported in public records. Unfortunately, this number is often inaccurate, so you need a third-party professional to measure the property before listing it. However, knowing the actual area will prevent many headaches and save you thousands of dollars in the long run. And because the gross living area is a crucial component in determining the value of a home, it’s worth it to have the correct measurement.
The interior of a home is crucial to a real estate appraiser’s job.
If you’re planning to sell your house in the future, the interior of your home is significant to a real estate appraiser’s work. A good appraiser should feel good when they walk into a home, and it doesn’t help to have a messy yard. It’s best to leave your pets at a neighbor’s house and be flexible. During the appraisal, you might be asked to accompany the appraiser to answer any questions that the appraiser may have.
The appraiser also considers the extra features of your home. For example, a newly-finished floor, updated bathrooms, and kitchens can all add value. It’s also worth considering if you’ve installed new appliances and a new HVAC system. While these may not directly impact the home’s value, they can improve the presentation of features and make them more appealing to potential buyers.
Getting a second opinion from a real estate appraiser
Getting a second opinion on a real estate appraisal can be helpful in many situations. It can help you confirm that your initial appraisal is correct or uncover errors in the first one. Here are some of the reasons why. Let’s start with the financial benefits. First, getting a second opinion is often cheaper than having the property redone. Second, it will help you avoid wasting money.
It is crucial that the appraiser sees the property in good condition, is uncluttered, and doesn’t overlook any particular features or amenities. If possible, give the appraiser a list of improvements made to the property. If possible, also provide the appraiser with the address of a home recently sold for the same value. While listing price may not be a factor in a second appraisal, getting a second opinion on the property’s value is vital.
Estimating the square footage of a home
When calculating a home’s square footage, real estate appraisers use a method known as gross living area (GLA). These guidelines are set by the Fannie Mae national mortgage association FNMA. GLA refers to the finished space above ground. This is the only space that can be counted as above-ground space. A finished basement, however, is not included.
Although some appraisers use a sketch to estimate a home’s square footage, others use public records. While some appraisers disclaim the use of public records, others do not provide consistent figures. A good rule of thumb is to take square footage information with a grain of salt. After all, the purpose of an appraiser is to determine the market value of a home, not to distort it.
A real estate appraiser should use a standardized formula for calculating square footage. This way, they can avoid calculating the square footage of a home that doesn’t have any modifications. They may also omit specific spaces, such as stairs, if they are part of a floor plan. However, if you’ve recently built a home, your documentation should include the square footage of the entire structure.