Property Valuation
In Michigan, a home's 'below-grade' finished area (basement) is typically:
AValued the same per square foot as above-grade living area
BGiven less value per square foot than above-grade area in the sales comparison approach, reflecting market preferences✓ Correct
CNot counted in the square footage at all
DRequired to be excluded from all Michigan appraisals
Explanation
Finished basement space is typically valued at less per square foot than above-grade living area in Michigan appraisals because buyers generally pay a premium for above-grade space. Separate adjustments are made for finished vs. unfinished below-grade space.
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