AnswerPls

What does basement below grade mean?

Asked by Olivia Williams on December 28, 2021

Categories: Real estate Houses


Rating: 4.3/5 (46 votes)

Fannie Mae considers a level to be below-grade if any portion of it is below-grade, regardless of the quality of its finish or the window area of any room. Therefore, a walk-out basement with finished rooms would not be included in the above-grade room count. This would be given value as a finished-basement.

How much value does an unfinished basement add to a house? But if a quarter of your square footage is in the finished basement – underground living space – then the value of your home would be less than the home with all above-ground square footage. You canfind various estimates of the value of basements, ranging between 50% and 70% of the above-ground value.

Does a finished basement count as a story? A basement is not considered in stories. If you look at elevators they will list floors as one and up with a B for basement. Stories are from ground level and up. A rancher may have a basement and if finished off it counts towards the house square footage because it is livingspace.

Does a walkout basement add value? Some of the benefits of a walkout basement are added value, increased useful living space and additional natural_light.