Last Updated on March 27, 2024

What Does Finished Levels Mean? | Real Estate Definition

By Alan F Macdonald

What does Finished Levels Mean?

In real estate, finished levels refer to the floors of a building that are livable.

Real Estate Agent Explains Finished Levels

Finished levels mean livable levels, which to be specific are floors of a building that are developed with walls (specifically studs, insulation and drywall), separate rooms (if necessary), adequate ceiling height, electricity, flooring, and are heated areas for all four seasons. Consequently, only finished levels are counted in the square footage of a property because if you can’t live in them, you can’t really say they are part of a house or building. A garage is not part of a finished level. An attic is not a finished level if you can’t stand up in it, even if it meets all the other criteria above. By the same logic, a crawlspace is not a finished level and doesn’t count towards one.

Why Does It Matter?

Finished levels are important in most cases specifically because of basement development. It is most common that all above grade floor will be finished, but below grade or basement levels may not be finished. It is typical in Edmonton homes that all levels above ground will be finished, but it is very common for a basement to not be a finished level. Since many people in Edmonton use their basement as living space, it may be important to know if there are three floors finished in a two-story home or just two finished levels.

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