We are building a 46oo sq. foot house. The basement area will be finished into 3 bedrooms with closets, 2 full baths, a powder room, a rec room, a full kitchen, a wine cellar and computer area. It certainly DOES count as square footage when it is completely finished like this one. The main floor was a master bedroom, master bedroom sitting room, master bath, huge huge master closet. Also a formal living room (large), formal dining room, huge kitchen, breakfast room, computer room, powder room, pantry and laundry room.
To get square footage, measure each room that is heated, or a fast way is just to measure the outside. That is how the appraisers do it. However, if you have 22 foot ceilings in some rooms like we do (living, dining, foyer and master bath), the appraisers actually gave us 800 sq. ft. more in the house that we actually have. My husband draws house plans, and he always measures room to room.
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