Certified Residential Appraiser Practice Exam

In property assessment, which term refers to the portion of a building solely for living purposes?

1. Common area

2. Living space

3. Residential area

4. Gross living area

The correct answer is: Gross living area

The term that specifically refers to the portion of a building solely for living purposes is known as gross living area (GLA). This concept encompasses all areas within the structure that are intended for residential use, typically measured from the exterior walls of the building. GLA includes bedrooms, bathrooms, kitchens, and living rooms, but it generally excludes areas like basements, garages, or attics that are not fully finished or intended for everyday living. Understanding gross living area is crucial in property assessment, as it significantly influences property value calculations and comparisons in the market. By establishing a clear definition of what constitutes livable space, appraisers can provide more accurate valuations of residential properties.