Why Understanding Square Footage Matters:
Understanding square footage of a home is an important aspect for both homeowners and those looking to buy or build a new home. This measurement provides a clear understanding of the size of the home and its suitability for you and your family. The square footage also contributes to the fair market value of a house and plays a significant role in obtaining a mortgage.
In addition, it can affect real estate taxes and provide insight into how much usable space you have in your home. Whether you are looking to buy a new home or build your dream home, having a clear understanding of the square footage will ensure you are making an informed decision that aligns with your needs and budget.
- Determining the size of the house for your family's needs.
- Contributes to the fair market value of a house.
- Helps in obtaining a mortgage.
- Can impact real estate taxes.
Included in Square Footage:
Knowing the square footage of your home is essential for various reasons, whether you are looking to buy a home, build one, or already own one. Square footage is a measurement of the size of a house, and it is critical in determining the suitability of the house for you and your family. It also plays a significant role in determining the fair market value of a home and can affect real estate taxes. This article will provide you with an understanding of what is included in the square footage calculation and what is excluded, helping you make informed decisions.
Gross Living Area (GLA) or Usable Space
- Includes:
- Flooring
- Wall Coverings
- Ceiling
- Heating and Cooling
Living spaces to measure:
- Living room
- Bedrooms (with closets)
- Bathrooms
- Kitchen
- Dining area
- Finished basement (if it meets criteria for livable space)
Excluded from Square Footage:
- Unfinished basement
- Unfinished attic
- Patio, deck, or porch
- Garage
- Pool house
- Detached storage buildings or sheds
- Guest house or separate in-law apartment
Finished vs. Unfinished Areas:
When calculating the square footage of your home, it’s important to differentiate between finished and unfinished areas. A finished area is defined as having a roof, floor, and walls with no visible framework, pipes, or electrical wiring. On the other hand, an unfinished area does not have a roof, floor, or walls and may have visible framework, pipes, or electrical wiring. Understanding the difference between finished and unfinished areas is crucial in determining the actual square footage of your home and its overall value. For example, converting an unfinished basement into a finished living space will increase the overall square footage and value of your home.
Finished:
- Roof, floor, and walls present
- No visible framework, pipes, or electrical wiring
Unfinished:
- No roof, floor, or walls
- Visible framework, pipes, or electrical wiring
Above vs. Below Ground Square Footage:
Understanding the difference between above and below ground square footage is important for accurately calculating the total square footage of a home. Above ground square footage refers to the measurement of the entire building from the ground up, including all living spaces and finished areas. On the other hand, below ground square footage refers to everything underground, such as a basement or lower level living space that may or may not be finished. Both above and below ground square footage are crucial in determining the total size and value of a home, and should be considered when calculating the square footage of a property.
- Above gradient: Square footage from ground up
- Below gradient: Square footage of everything underground
Calculating Square Footage:
Calculating the square footage of a house is an important aspect of owning, buying, or building a home. It helps determine the size and suitability of the house, affects its fair market value, and plays a role in obtaining a mortgage. In order to accurately calculate the square footage, it is important to have the right tools and to follow a specific set of steps. In this guide, we will provide you with a list of materials needed and step-by-step instructions on how to measure and calculate the square footage of your home.
Materials needed:
- Measuring tape
- Laser measure
- Calculator
- Pen or pencil
- Paper or notebook
Steps:
- Measure the length and width of each room and multiply the numbers to get the square footage.
- Add up the finished spaces to get the total finished square footage.
- Calculate unfinished rooms and basement as separate categories.
Calculating Square Footage of Rooms with Uneven Dimensions:
If you’re working with rooms of varying sizes, don’t worry – the process of calculating square footage remains largely the same, with just a few extra steps.
For example, let’s consider a bedroom that measures 14 feet 7 inches by 12 feet 6 inches. To calculate its square footage, we first convert the feet and inches measurements into inches only. So, we have 175 inches (14 feet 7 inches) by 150 inches (12 feet 6 inches).
Next, we divide each of these figures by 12, giving us 14.58 and 12.5 respectively. Finally, we multiply these two figures together to get the square footage of 182.25 square feet.
Calculating the Square Footage of Circular Rooms:
- Establish the room's radius, either by measuring the distance from the wall to the center of the room or by dividing the circle of the room in half
- Multiply the radius by itself and then by pi (3.14) to find the square footage
Standards for Calculating a Home’s Square Footage:
When it comes to calculating the square footage of a home, it’s important to have a clear and precise method in place. To ensure accuracy and avoid missing any key areas, follow these standards for determining a home’s square footage:
- Build a floor plan to have a visual representation of the house and avoid overlooking any rooms
- Select the finished rooms to measure and record the dimensions in a separate category for any unfinished portions such as the basement, garage, patio, or detached constructions
- Measure the stairs by multiplying the depth and width of each step to increase the total square footage of the home
Does Square Footage Affect Your Plans to Build a Home?
This measurement can impact factors such as property value and property taxes. However, it’s important to remember that the price per square foot can vary greatly between builders and shouldn’t be the sole focus. Obtaining a construction loan can also present challenges, but Builder Loans is here to help. With its connections to financial experts and support throughout the financing process, Builder Loans can ease the stress of organizing finances for your dream home build.
- Knowing a home's square footage is important for determining the value of a property and property taxes
- However, don't obsess over the square footage, as the price per square foot can vary greatly between builders
- Obtaining a construction loan can be challenging, but Builder Loans can connect you with financial experts and guide you through the financing process
- A construction loan is helpful for covering costs that may change or unexpected expenses during the building process
For additional information, visit builderloans.net.
