Especially at this time of year, it’s easy to see how some may view their outdoor patios or solariums as extensions of their living space, providing valuable additional square footage. While it might be tempting for homeowners to include those measurements on the data input, boosting their total square footage, we remind members, particularly in view of an increase in incidents recently, that balconies and patios cannot be included in total square footage.
We are seeing construction of many strata developments with enclosed, heated and fully livable areas that provide great value to buyers. While these are often intended for the sole enjoyment of one unit, they are in fact limited common property, and as such, cannot be included as either finished or unfinished square footage. The appropriate way to highlight a closed in balcony, for example, is to note it in the REALTOR® Remarks, public comments, and to include pictures.
It is important for our membership, as well as the public, that the information provided on the MLS® system is accurate and as clear as possible. Patios, solariums and garages all add valuable living space, but they do not increase the total square footage of a unit. Including them creates risk for members and clients. If you have questions about a specific situation, please contact your Managing Broker.
More information on this subject may be found on the BCFSA website, here.
Source: Professional Standards