What does Gross Living Area refer to in real estate?

Gross Living Area refers to the total area of a residential property that is considered livable space, measured from the exterior walls of the building. This measurement typically includes all floors of the structure that are above ground and is integral in determining property valuation, especially for residential real estate transactions. It provides a standardized way to assess the size of homes, allowing buyers and appraisers to compare properties effectively.

The definition emphasizes that Gross Living Area encompasses all usable living space, which aligns perfectly with the description of the total area under one roof. This does not include measurements such as property width or land area, as those relate to different aspects of property assessment and do not describe living space directly. Similarly, areas meant for gardening or outdoor spaces are not included in the Gross Living Area, as they do not contribute to the livable square footage of the home. Thus, the correct choice directly reflects the comprehensive nature of livable space within residential properties.