What is meant by Living Area in residential property?

Living Area in residential property typically refers to the total floor area that is considered usable for living purposes, which predominantly includes all areas above grade level. This area is essential for determining the usable square footage that can impact valuation, marketing, and overall property assessments.

Focusing solely on the space above ground distinguishes the living area from spaces that are not typically included, such as basements, which are often categorized separately, especially if they are below grade. Defining living area in this way helps to accurately represent the functional and livable space available in a home for prospective buyers and appraisers.

The other options describe areas that fall outside the standard definition of Living Area, such as including basements or areas only beneath grade, which do not align with the typical understanding of livable space in residential properties.