Remeasuring added square footage after rehab?

Question

I just rehabbed a house and I have the appraiser coming out in a few days….

There is some additional square footage now, but I am unsure how to officially record this for the appraiser to take into account

Is this something that I can measure myself and just tell the appraiser? Or does a certified professional have to come do it? If so, who would that certified professional be?

thanks guys!

Andrew Postell · Answer

@Steven Barr this is going to be very dependent on the market your property is in.  Some markets don't need additions to be officially recorded and some do.  The appraiser should measure the property appropriately and provide the value based on the comps in the area.  If the work is already done....then there's nothing to really do except just let the appraiser do his/her job and keep those fingers crossed.  Maybe it will be fine.

Jason Regan · Answer

In my market (Massachusetts) when adding additional space we need to pull a permit.  This is usually good enough for the appraiser to take into account.  There is a caveat with this as certain things wont be taken into account at 100% value.  For example a finished basement is not worth as much per square foot as the main living area.  When I list I usually take this at 50% value of the main floor price per square foot.  Appraisers don't use this exactly but, as explained to me by an appraiser, its a bit of a sliding scale and depends how much is above or below grade.  The easy way is to measure it yourself tell the appraiser how much square feet you added

Eliott Elias · Answer

Was the additional share footage permitted work?

Patrick Britton · Answer

@Steven Barr  "Is this something that I can measure myself and just tell the appraiser"

No.

Steven Barr · Answer

@Jason Regan do appraisers ever ask to see the permits you pulled to add sq footage?

Remeasuring added square footage after rehab?

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