The FVREB last published a NewsReal article about square footage (SF) in August 2022. However, recently, both the MLS® and Professional Standards Departments have received an increasing number of inquiries and concerns about inaccurate property measurements.
Strata Lots
The BC Financial Services Authority (BCFSA) has stated that SF measurements obtained from strata plans have occasionally been found to be incorrect. This happens when a builder, for some reason, deviates from the original set of plans during construction. REALTORS® should check all measurements obtained from the Land Title Office by physically measuring the strata unit. Quoting measurements from inaccurate strata plans has caused some REALTORS® to incur substantial financial damages.
While patios and solariums may be an extension of living space, they CANNOT be included in SF, even if the patio/solarium is enclosed. These areas may be designated for the exclusive use of the strata lot owner, but patios and balconies are usually “limited common property” (LCP) and are therefore owned by the strata corporation and not by the individual unit owner. Similarly, carports and storage rooms outside of a unit are not included in SF.
When advertising strata units, the suggested wording is: “the strata lot is XXX SF, plus the exclusive use of a balcony, large patio and two parking spaces, which are designated as LCP”. This clearly defines what is offered and eliminates the confusion existing in measurements of strata lots.
SF complaints about strata units arise when identical units in the same building are listed by separate REALTORS®, but with different SF. This happens when one of the listings improperly includes a balcony or patio in the SF calculation to make the unit appear to be bigger or to gain an unfair advantage. This practice must be avoided.
Single-Family Homes
Finished area is defined by the BCFSA as “an enclosed area in a house suitable for year-round use, embodying walls, floors, and ceilings that are similar to the rest of the house.”
Living spaces are the heart of a home’s SF. This includes the kitchen, living room, dining room, and bedrooms. Closets, hallways, and stairs are included as living space.
For basements and attics to be included in SF, they must have heating and cooling. If not, these areas are NOT included in the SF and can only be labeled as “extra space” that could be useful.
Garages are NOT included in the SF.
SF only includes places in the home that are cozy enough to be used all the time.
Inaccurate property measurements are a common source of complaints. As such, REALTORS® are encouraged to exercise caution when taking property measurements. Some find it prudent to retain property measurement specialists.
Source: FVREB Professional Standards