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I just found out that the square footage on my house is almost 900 sq ft more than what is listed in the town records. Granted it is a benefit that I have been paying less taxes all these years but for resale value having a 2,300 sqt ft. house is more desirable than 1,400 sq ft. I found this error myself. The appraiser didn't take their own measurements nor did the realtor that I had previously hired to sell my house.
Is this the homeowners responsibility to check measurements? The realtor? The appraiser? Does anyone know how much of a difference this would make on an appraisal? At this point, I am not feeling very confident with the appraiser for not taking their own measurements to even have them bother to refigure.
Does anyone do a good thorough job these days? And people wonder why their business is doing so poorly!
Well the responsibility lies on all. I couldn't imagine an appraiser not measuring the house they are hired to appraise, then placing a value based on price/square foot. Same with a realtor. Anytime I list a house for a client, measurements are essential- and responsibility is put on my shoulders as I market the home at that square footage.
If you are looking for a great appraiser in the area, I have one and would be happy to pass his information on. Good luck!
How did you find out? What method of measurement was used (that can make a surprising difference)? Does the measurement include the garage and, if so, is the garage heated/air conditioned (here, a garage that isn't heated/air conditioned doesn't count). How many square feet did you think the house had when you bought it/had it built?
In my area, it's very common for there to be differences in measures between property tax records and reality.
Unrecorded additions, human measuring and data entry errors could be the cause.
Sometimes, people include garage and/or porch space, which do not count.
In my area, agents take measures of interior rooms. This does not include closets and hallways. Rarely will an agent measure the perimiter of a home.
Some MLS does not allow for square footage entries due to potential litigation. If they do, tax records are usually used. Some areas, usually with new-newer construction are more oriented towards square footage than areas with older and historical homes.
Sometimes appraisers rely on tax records and sometimes they measure. Measuring is usually an option with an upcharge. And then there is the whole property surveyer thing.
It's unlikely that any two people will come up with the same measures, dependent upon technology used.
How did you find out about the discrepancy? Did you measure yourself? If so, are you sure you didn't make a mistake?
Details, please!!
ETA: Well, apparently someone(s) beat me to my questions!
A house 2 houses over from me sold for 25K more than the offer I had on my house. The house that sold looks a lot smaller than mine and it is less than half my land plus it doesn't have a garage. This house was a spec house which was built only 4 years ago so I realize that is more of a plus and the house has central AC (mine doesn't). I was with my appraiser so I know she didn't measure the house. She came back with a much lower appraisal and said that the house sold was 500 sq ft larger and of course newer (which I new it was newer). I was shocked that this house was LARGER than mine. I went on the Google's satellite maps and I could clearly see my house and the house that sold and even from the bird's eye view my house was definitely larger. That's when I decide to take my own measurements.
I couldn't measure the inside because of tenants but I measured the outside (which I remember the appraiser that measured my new house measured the outside) of the house. Is this how you calculate it? The main foundation is 30' X 36' = 1080 times 2 for the second floor = 2160 plus the kitchen addition is 7.5 X 27.5 = 206 plus the mudroom addition is 8' X 5.5' = 44.
If I am adding correctly, isn't that 2410 sq ft? Of course that includes the closets, storage cabinets, hallways but it doesn't include the attic, cellar or garage. The town records say 1485 sq ft.
The new house I bought was listed as 1400 sq ft. NO WONDER WHY I COULDN'T FIT ALL MY STUFF IN MY NEW HOUSE .... IT'S 1000 SQ FT SMALLER!!!!
I don't understand how the town's square footage records would have any impact on your home's value, either by market value or appraisal value.
I also don't understand why you'd measure the outside of the house. This is not how things are done here, as far as I know.
Even if I took a foot off all my measurements allowing for 6" walls, I still have a whole lot more sq. footage that the town records.
Am I understanding you, if you had 2 comparable houses in the same neighborhood both selling for 280K and one had 1400 sq. ft and the other one had 2400 sq ft. .... the sq. footage wouldn't matter to you? You wouldn't see the larger house as a better resale value?
Am I understanding you, if you had 2 comparable houses in the same neighborhood both selling for 280K and one had 1400 sq. ft and the other one had 2400 sq ft. .... the sq. footage wouldn't matter to you? You wouldn't see the larger house as a better resale value?
No, this is not what I am saying.
You said:
Quote:
Originally Posted by FrozenAngel
I just found out that the square footage on my house is almost 900 sq ft more than what is listed in the town records. Granted it is a benefit that I have been paying less taxes all these years but for resale value having a 2,300 sqt ft. house is more desirable than 1,400 sq ft.
Obviously, the physical size of your house does not grow and shrink with the town records. Therefore the resale value does not change with the town records.
House A is a 2,400 sqft house with town records showing 1,400sqft
House B is a 2,400 sqft house with town records showing 2,400sqft
I would buy house A, all other factors equal.
Well yes, I see, house A has very low taxes so I assume this is what you mean?
Also, are my calculations close enough to hurry and change my listing or should I wait till June 1st when the tenants are gone? I was thinking I would take a foot off of the measurements to be closer to the inside measurements. I guess I could put a disclaimer in my listing saying the sq ft is 1000 sq ft higher than town records? And add "Buyer measure to confirm"?
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good appraiser
