Finding the square footage on an appraisal report might seem straightforward, but the exact location can vary slightly depending on the appraiser and the reporting software used. However, it's consistently a crucial piece of information included in the report. This guide will help you locate it efficiently.
Where to Look for Square Footage on an Appraisal Report
The most common place to find the square footage is within the property characteristics section of the appraisal. This section usually provides a detailed description of the property, including:
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Total Living Area (TLA): This is the most important measurement, representing the finished, heated, above-grade living space. This is often the number people are looking for when searching for the square footage. Look for terms like "Gross Living Area" (GLA) as well, which is often used interchangeably.
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Above-Grade Area: This will include the square footage of all areas on the main living levels of the house. Garages, basements (if finished), and other outbuildings are usually excluded from this measurement.
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Below-Grade Area: This refers to any finished living space located below ground level. This area is often excluded from the total living area but will be specified separately.
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Other Structures: Sheds, garages, and other outbuildings will often have their square footage listed separately. Keep in mind these areas are typically not included in the total living area.
The square footage is usually presented as a numerical value, often in a table or a clearly labeled section. Sometimes it's stated as "square feet" or abbreviated as "sq ft."
What if I Can't Find the Square Footage?
If you're having trouble locating the square footage, consider these points:
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Check the Summary: Many appraisal reports begin with a summary that highlights key data points, including the square footage.
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Review the Property Description: Look for any detailed descriptions of the property's layout and dimensions, which might contain the square footage indirectly.
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Look for Diagrams or Floor Plans: Some appraisal reports include diagrams or floor plans. While not always explicitly stating the square footage, you can often calculate it using the dimensions provided.
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Contact the Appraiser: If you still can't locate the square footage, contact the appraiser directly. They are the best resource for clarifying any ambiguities in the report.
Why is Accurate Square Footage Important?
Accurate square footage is vital for several reasons:
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Property Value: It is a major factor influencing a property's value.
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Insurance: Your homeowner's insurance premium may be based on the square footage.
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Resale Value: The square footage is a crucial piece of information that prospective buyers use to evaluate a property.
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Tax Assessment: In many jurisdictions, property taxes are based on the square footage.
How is Square Footage Measured in an Appraisal?
Appraisers use standardized methods to measure square footage, adhering to local regulations and industry best practices. They generally measure the exterior dimensions of the structure and account for any finished areas included within the calculation. The process is far more detailed than a simple measurement with a tape measure; professional appraisers use sophisticated techniques to guarantee accuracy.
Are there different types of square footage?
Yes, as previously stated there are several types. Understanding the differences is crucial:
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Gross Living Area (GLA): The most commonly used measurement for residential properties. It only includes finished, above-grade living space.
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Gross Building Area (GBA): Includes all areas of the building, including unfinished spaces, basements, and garages.
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Usable Area: Focuses on the actual usable space within a building, excluding areas like hallways and closets. This varies by definition in different fields.
By carefully reviewing the appraisal report and understanding the different types of square footage measurements, you should be able to easily find the information you need. Remember that the information provided within the appraisal is a professional assessment and should be treated as such. If you have further questions, always contact the appraiser directly.
