Square Footage - Understanding What's Included!

When comparing homes that are very similar in style, location, and level of finish, it is helpful to use square footage as a comparison factor. Real estate listings qualify square footage in a variety of ways: heated square feet, finished square feet, heated living area, unfinished square feet, unheated square feet, just to name a few! Depending on the region of the country, the terminology varies even more. In Florida, for example, you may encounter ACSF (air conditioned square feet.) It can become a bit confusing!

There are standard real estate guidelines used by realtors and appraisers for defining and measuring square footage in a home. Advertised square footage in real estate ads or on the multi-listing service should adher to these guidelines. Knowing these guidelines will help sellers understand how their home is measured, and will help buyers understand what is included in advertised square footage.

First of all, Finished Living Area is space intended for human occupancy. It must be heated by conventional, permanent systems. (Portable heaters would NOT qualify.) It must have floors and ceilings made of materials generally accepted for interior construction. Finally, it must be directly accessible from another finished area. If you had a finished laundry room only accessible from the garage, for instance, it would not be counted in finished living area. An enclosed porch would not be counted unless it had a permanent heating system.

Square footage for a home is calculated based on exterior walls. If possible, one measuring a home would measure the outside of a home, then subtract any unfinished areas (such as an attached garage). Sometimes it is not possible to measure from the outside, and so interior measurements are made. In these cases, the standard is to add 6" for an exterior wall, and 4" for an interior wall to calculate total square footage.

To qualify as living space, the ceiling height must be at least 7 feet. Often in bonus rooms or A-frames, upper level rooms have slanted roofs. In this case, only areas with at least 5' high ceilings are counted, as long as at least half of the room has a minimum of 7' ceiling. Any portion of the room with less than 5' ceiling is not counted in living area square footage.

Hallways, closets, and pantries are counted if they are part of the functional living space. If the furnace, water heater, or similar items are located within a small closet within the living area, that square footage is counted. However, if the furnace, etc. are in an unfinished "mechanical room" in the garage or basement, that area is not counted in finished living area.

Unfinished square footage should include those areas that are under roof and could be finished out for additional living space. This definition usually includes unfinished basements, or unfinished rooms above a garage (as long as it is accessible by a permanent staircase). A garage should NOT be included in the "unfinished living area". Generally, unfinished square footage descriptions should be clarified in the "comment/remarks" section of a listing.

If you have questions about the square footage calculations used on a property, ask your real estate agent for clarification. Finally,remember that cost per square foot is just one measure. Level of finish, upgrades (granite countertops, whirlpool tubs, etc.), condiditon of the home, location and/or view, and other qualitative measures need to be considered as well.


For all of your real estate needs, visit Lake Wylie Real Estate for property searches, newcomer information, community links, and virtual tours.

Negotiating on a New Construction

Have you ever been in the market for a new home, and found one that was almost perfect, but not quite close enough? Perhaps the carpet or flooring wasn't quite what you had in mind. Or the light fixtures just weren't your style. Maybe the dining room was too small, and if you could just remove the wall and open it up to the living area, it would be fine.

The truth is, when you're buying a house, everything is negotiable! The builder may, if requested, be willing to make structural or cosmetic modifications to change the house to fit your needs. I've seen builders move walls, open up areas, add walls to separate an oversized bonus room into two smaller rooms, change the direction of staircases, and more.

Light fixtures? Easy. Add some built-in bookcases? Can do. Turn the deck into a screened porch? Why not. Add a basement? Well . . . that one might be tricky. Within reason, the builder may be willing to change things that you may think are fairly major. Of course, the cost to make the changes are quite negotiable as well. We're in a buyer's market right now. There are over 200 new homes on the market in Lake Wylie area alone.

While there are many homes to choose from, sometimes it is difficult to get everything you want: school district, yard size, bedroom configuration, neighborhood amenities. Decide what's most important to you. Then, when you find a house that is close to your specifications, don't be afraid to ask for modifications, if it makes the difference between "deal" and "no deal." Before you stop considering a home because of its "imperfections", have your realtor discuss any concerns you might have with the seller. Ask the builder if those hindrances can be overcome by modifications. Most builders, you will find, can be very accomodating!

It is very helpful to the builders to hear your feedback. They'd MUCH rather consider making changes, rather than have buyers simply disappear.

Visit my website for more Lake Wylie Real Estate Buyer Resources. You can also search for all real estate in Charlotte and surrounding areas. For all of your real estate needs, call on The Lake Wylie Man!

2008 Waterfront Sales - A Year in Review

What can we say? 2008 was a year to develop patience . . . patience as we recovered from a record-breaking drought, followed by what can only be described as a "crisis" in the mortgage industry, followed by crazy gas prices like we've NEVER seen before, followed by economic challenges that we haven't experienced in years.

Number of homes sold on Lake Wylie were down 43% vs 2007, and number of waterfront lots sold was off by 60%. Properties that DID sell stayed on the market twice as long as the average waterfront property sold in '07. Not exactly a year for a realtor's "brag book"!

And yet . . . even in the midst of storms, rainbows do appear. Did you know that of the Lake Wylie waterfront homes sold in 2008, twenty percent (10 homes) were $1 million+ properties? That's a record, folks! As a comparison, in 2007, MLS reported only 9% (8 homes) sold for over $1 million.

More good news - - with the drop in mortgage rates and price adjustments on some of the properties for sale, fourth quarter sales began to bounce back, doubling the number of waterfront properties sold in 4th quarter 2007!

Buyers have never had so many lakefront properties from which to choose. There are currently 175 building lots and 117 waterfront homes listed on MLS! There is a good selection of lots under $300,000, with the majority of lots listed for between $300k and $450k. Homes listed are at a nice variety of price points, from the "summer places" for under $500k, up to the waterfront estates over $1 million.

The lake looks gorgeous right now, with water levels at "full pond" and rain conditions back to normal. Gas prices are manageable, back to rates where people feel like they can take the boat out on a warm spring day without breaking the bank.

All in all, we're very blessed to live in such a beautiful place. Lake property will continue to be a solid investment and just a wonderful way to live. Please visit my website, http://www.thelakewylieman.com/, and see what's offered on Lake Wylie right now. Let me know if I can be of service to you!

David Coone

The Lake Wylie Man

For more blogs on Lake Wylie living, Lake Wylie real estate, and resources for waterfront homeowners, visit my website!