Do You Add Square Footage ? (Phoenix, AZ) Experienced Only

[Account Closed]

Hello Investors,

Does anyone specialize in square footage adding to properties ? 

There is a property in Maryvale I want to add 300sqft to it. It is 1,100 at the moment

-When bank sends appraisal, do you get the price of the 1,100sqft property or 1,400sqft one ? 

[Patrick McCandless]

Frank V. Your question is a little vague. Who's bank are you referring to? Yours when purchasing the property? Or do you already own the home and are assuming whoever buys the property will utilize conventional financing and you are asking if that lenders appraiser will take the addition into account?

Appraisers measure the livable square footage so they should take it into account. If you permit the addition properly the new square footage can be added on the tax record as well as the MLS listing once you sell. I mean technically you can put whatever you want on the MLS listing, but if there is a discrepancy between the number on the MLS listing and the tax record then the selling agent SHOULD notice this and question you on it. In which case you would obviously disclose that there is a non-permitted addition involved. Some buyers will care less as long as it is built in a workmanlike manner, but I've also had buyers that are completely scared off if the addition wasn't permitted.

Hope this helps. Feel free to PM me to chat more.