New Built - What to post the sq ft as ?

Question

This is my first investment house. I am closing it in next 2 weeks. The sq ft mentioned by the builder was 2050 but the appraisal came back with 2233 sq ft. I questioned the mortgage company if this is valid as the difference is a lot. But my question is if this is correct, what should I put the sq ft of the house when I put it out for rental? 2050 or 2233? I don't know if the builder will communicate to the county that its 2050  sq ft house and if I put it as 2233 sq ft, some renters might think I am misleading them.

Greg M. · Answer

Perhaps the appraiser was counting the garage/attic/basement while the builder was counting only living space?

The county is going to go off the building plans/permits. The appraiser isn't an engineer and I wouldn't trust their measurements. They can be very loose with their numbers. My last appraisal, he stopped measuring when he got up to the total sq ft that I had listed. I know my numbers were rights, so he was at least 10% high on the rooms he measured.

I'd go with whatever is listed on the county tax records when finalized. Otherwise, just say 2050 to be safe, but realistically, no one is going to care/notice and if they did, you have paperwork to back up your number.

Theresa Harris · Answer

The county is going to go off the plan that was submitted.

As for advertizing it for rent, say 'just over 2000 sq ft' which is accurate and not misleading.  People are going to focus on the number of beds and baths and price when looking at the ad (and photos) and the layout when they come to view it.

Raghavendra Jakkani · Answer

The loan officer came back and said that the sq ft was approximation and the appraiser doesn't want to change the sq ft or redo the appraisal. The builder is also surprised that the sq ft came out that high. The builder believes that the appraiser never actually did the measurement. I went and took the measurements and they are off by 1 ft to 2 ft and location of various rooms in the appraisal report is all wrong.

Now my question is I don't want to end up paying property taxes for the Sq footage that doesn't exist. So I want the correct sq ft that builder mentioned to be on the county website. How do I make sure of that?