conversion
470) Conversions and GLA
03/22/09
Dear H2,
Could you elaborate a bit on garage conversions. It has always been my impression that the conversion needs to be at the same level(i.e., no step down,such as a sub floor added) and that is should share or have the equivelant of the same heat source. My subject has a converted garage, sliding glass door replaces the garage door, a ceiling fan, definitely "step down" to the conversions, and an indiviudal wall heat/ac unit. Please be as specific as possible, the lender is arguing that I should include this as above grade GLA, and I have added it as below grade GLA and only assigned contributory value. (Love your website!)
Thanks,
Stacy Farmer stacyhfarmer@aol.com
Dear Stacy,
There are no absolute rules about when a garage, breezeway, or open porch are converted into living area and then become part of the house's GLA. Generally, any part of the converted space that is finished and heated substantially like the rest of the house can be described as gross living area (with the notation as to what it was before it was converted) provided that it is 100% above ground. Even this rule is not iron clad, it is only a guideline. It all depends what is common in your market area. If the space was a garage previously, it is not clear to me by what you mean "step down". A step down that is still fully above ground level is not a problem. However, if you are going to make an exception to the general GLA guideline that to be included the area must be 100% above ground, you must prominently disclose what you are doing.
H2
Could you elaborate a bit on garage conversions. It has always been my impression that the conversion needs to be at the same level(i.e., no step down,such as a sub floor added) and that is should share or have the equivelant of the same heat source. My subject has a converted garage, sliding glass door replaces the garage door, a ceiling fan, definitely "step down" to the conversions, and an indiviudal wall heat/ac unit. Please be as specific as possible, the lender is arguing that I should include this as above grade GLA, and I have added it as below grade GLA and only assigned contributory value. (Love your website!)
Thanks,
Stacy Farmer stacyhfarmer@aol.com
Dear Stacy,
There are no absolute rules about when a garage, breezeway, or open porch are converted into living area and then become part of the house's GLA. Generally, any part of the converted space that is finished and heated substantially like the rest of the house can be described as gross living area (with the notation as to what it was before it was converted) provided that it is 100% above ground. Even this rule is not iron clad, it is only a guideline. It all depends what is common in your market area. If the space was a garage previously, it is not clear to me by what you mean "step down". A step down that is still fully above ground level is not a problem. However, if you are going to make an exception to the general GLA guideline that to be included the area must be 100% above ground, you must prominently disclose what you are doing.
H2
463) Garage Conversion
03/07/09
Dear Henry,
Thanks for the great website! My question is regarding a dwelling with an attached garage which has been converted into usable living area. The converted garage has flooring (ceramic tile), finished walls(painted sheetrock), and an air/heating source. All materials are similar in quality and design to the rest of the dwelling. The space is also accessible from the interior of the house. The only drawback is that the garage door is still in existence. They have installed sliding doors on the exterior facade which, from the front, makes it look ike the garage doors aren't there. But on the inside, they are, including tracks and all. Would this still be considered a garage, or should it be added onto the GLA?
Mike Bourgeois mickey@mpbappraisals.com
Dear Mike,
The general rule about garage conversions is that if they are finished and heated like the rest of the house, they cease to be a garage and become whatever they are converted into (bedroom, recreation room. etc). The garage door issue depends upon your market area. In many cities like Philadelphia where many townhouses have front facing garages converted into living areas, it is customary to leave the garage door in place. However, this may not be true in other areas.
H2
Thanks for the great website! My question is regarding a dwelling with an attached garage which has been converted into usable living area. The converted garage has flooring (ceramic tile), finished walls(painted sheetrock), and an air/heating source. All materials are similar in quality and design to the rest of the dwelling. The space is also accessible from the interior of the house. The only drawback is that the garage door is still in existence. They have installed sliding doors on the exterior facade which, from the front, makes it look ike the garage doors aren't there. But on the inside, they are, including tracks and all. Would this still be considered a garage, or should it be added onto the GLA?
Mike Bourgeois mickey@mpbappraisals.com
Dear Mike,
The general rule about garage conversions is that if they are finished and heated like the rest of the house, they cease to be a garage and become whatever they are converted into (bedroom, recreation room. etc). The garage door issue depends upon your market area. In many cities like Philadelphia where many townhouses have front facing garages converted into living areas, it is customary to leave the garage door in place. However, this may not be true in other areas.
H2
446) Converted Garage
01/13/09
Dear H2,
Subject garage has been converted to small office configuration, with a reception area, manager's office, conference room and Xerox room. Building & Safety Dept. added the sq ft of the garage into the GLA, but says it was done without permits. Since there are no permits, do I count the added GLA and say "no permits"? Or, since there were no permits, should I just count it as a garage? The garage door is still there and probably could be made to function again.
Leroy Thomas III LT3Appraisers@aol.com
Dear Leroy,
First you need to have a scope of work dialogue with you lender/client to determine the purpose of the appraisal. If it is for a Fannie Mae mortgage you and the client should decide who is going to determine if the house as it is used is legal. You then have to decide if you are going to appraise the house 'as is" and let the chips fall where they may or if it will be appraised as some other use than the existing use and your appraisal will be conditional upon the conversion to that legal use. You must be very careful that your appraisal is not knowingly used by the client to defraud anyone and whatever assumptions you make are reasonable and legal. I highly recommend that you get your scope of work instructions for this assignment in writing.
H2
Subject garage has been converted to small office configuration, with a reception area, manager's office, conference room and Xerox room. Building & Safety Dept. added the sq ft of the garage into the GLA, but says it was done without permits. Since there are no permits, do I count the added GLA and say "no permits"? Or, since there were no permits, should I just count it as a garage? The garage door is still there and probably could be made to function again.
Leroy Thomas III LT3Appraisers@aol.com
Dear Leroy,
First you need to have a scope of work dialogue with you lender/client to determine the purpose of the appraisal. If it is for a Fannie Mae mortgage you and the client should decide who is going to determine if the house as it is used is legal. You then have to decide if you are going to appraise the house 'as is" and let the chips fall where they may or if it will be appraised as some other use than the existing use and your appraisal will be conditional upon the conversion to that legal use. You must be very careful that your appraisal is not knowingly used by the client to defraud anyone and whatever assumptions you make are reasonable and legal. I highly recommend that you get your scope of work instructions for this assignment in writing.
H2