When buying a home in Breckenridge, the exact square footage is often one of the last things that might cross your mind. The amazing architecture and beautiful neighborhoods tend to come first because this is such a popular place to live. It’s natural not to think about the literal size since buying a home can be overwhelming and so many other qualities can overshadow this detail.
However, square footage is important to consider before you make your final decision. As one of the top real estate companies in Breckenridge, we take this measurement seriously. Today I want to take a moment to help you decode what this calculation means.
Ask an Appraiser
One of the best ways to determine the square footage of a property you’re buying or selling is to ask an appraiser. If the home is on the new side, the original builder might be an even better alternative. This professional can provide you with the “as built” floor plan, which will give you an accurate picture unless your home has any recent additions.
Generally speaking, an appraiser will figure out the gross living area (GLA). If there is a basement, this will be added to the total count and may be added to the living area if it is a finished space.
You should always remember there are a number of different standards that can affect how a home is measured. Appraisers who are hired by lenders traditionally follow Fannie Mae guidelines. Not every appraiser follows this formula, however, so there could be variations in the number. According to Fannie Mae, everything above grade that is also heated, connected and finished contributes towards the total square footage.
The key is that the square footage involves the actual living space that is attached to the home. Therefore, furnace rooms and laundry areas have to be connected as well in order to be counted.
Still, there can be confusion when it comes to these variables, especially the basement. While only the finished portions customarily matter for a square footage figure, there are instances where unfinished areas are also calculated and that can cause confusion as to the actual size.
Vaulted ceilings are another questionable part of the home when it comes to this measurement. Some appraisers tend to subtract the space from the second floor to calculate a two-floor number. Others may overlook this aspect. Therefore, the final square footage often has a lot to do with the particular person doing the measuring.
In the end, however, it’s critical that you have a precise calculation of your home’s square footage. This is because the amount of taxes you pay is very much influenced by the size of your property.
Whether you’re selling your home or in the process of buying, don’t forget to let the assessor’s office know of any updates to this crucial measurement. That way, an accurate figure is on record for your listing, your own tax bill or for the owners of the future.
Want More Info?
As you can tell, the square footage of a home isn’t as cut and dried as you might think. There are certain complications that should not be brushed aside. I hope this blog gives you a better idea of the importance of this calculation.
If you’re ready to purchase a new home in Breckenridge or throughout Summit County, I can put together some properties that might suit your tastes. Feel free to look through the updated listings on my website any time, too. Then we can talk about the homes that interest you together.
Also, if you have a home to sell, I’d be happy to assist you. Give me a call and we can discuss a strategy for listing your property.