Basement Living Space Appraisal
Basement Living Space Appraisal. Normally, a garage would not be considered living space Appraisals are required when you buy or sell a home and when you refinance. Basement living space is common for the area.
The space includes a mini fridge, microwave, small sink, (it is not a full kitchen). But before you tackle such a project, bear in mind the challenges inherent in basement renovations. I have two big rooms which are used for my study area, and hang out area. my bar is in the study area.
When everybody uses this same way of classifying living space it's easier to compare apples to apples.
There are all sorts of carpeting available.
Drainage is very important for basements and crawl spaces - as you don't want water in these areas. I want to refinance my home, but I pulled the comps and there weren't many in the value range I am hoping for. I am a mortgage underwriter, and have a couple questions for an appraiser.
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