144) Basement Space in GBA
11/05/07
Dear H2,
I'm having conflicting views regarding calculating gross building area based on information from my supervisor vs. what I read in text books.
We recently appraised a two family house where Apt #1 utilizes the first floor and finished basement and Apt #2 utilizes the 2nd and 3rd floors. My supervisor claims that I cannot include the basement square footage into my GBA, yet everywhere I look I see that I can.
Who is correct?
Thanks for your time,
TF (name withheld by request)
Dear TF,
I agree with you. One of the differences between Gross Living Area (GLA) and Gross Building Area (GBA) is that GLA cannot include basement areas and GBA includes basement areas that are finished and heated like the rest of the building.
I would add a comment on the appraisal report explaining how this space is used (as the lower level of a 2-story apartment), to make sure that the information is not misleading.
H2
I'm having conflicting views regarding calculating gross building area based on information from my supervisor vs. what I read in text books.
We recently appraised a two family house where Apt #1 utilizes the first floor and finished basement and Apt #2 utilizes the 2nd and 3rd floors. My supervisor claims that I cannot include the basement square footage into my GBA, yet everywhere I look I see that I can.
Who is correct?
Thanks for your time,
TF (name withheld by request)
Dear TF,
I agree with you. One of the differences between Gross Living Area (GLA) and Gross Building Area (GBA) is that GLA cannot include basement areas and GBA includes basement areas that are finished and heated like the rest of the building.
I would add a comment on the appraisal report explaining how this space is used (as the lower level of a 2-story apartment), to make sure that the information is not misleading.
H2