Residences at Very-Good Quality are typical of those built-in high-quality tracts or developments and are frequently individually designed. Attention has been given to interior refinements and detail. Exteriors have good fenestration with some custom ornamentation.
The Very-Good Quality residence is typical of high-quality tracts or developments. It is also frequently an individually designed home in the move-up bracket. Special attention is given to exterior as well as interior details. Irregular shapes and angles will be common, as well as large eaves and overhangs.
Depending upon the type of construction in your neighborhood a Very-Good Quality Residence could be considered as the local standard or average, above average, or even the best housing in the community.
Older homes may require a plus adjustment for plaster interiors and at the same time a minus adjustment for the lack of current energy (insulation) standards. While some may have added trim and built-in features, other items such as kitchen cabinetry and mechanical items will be deficient by today's standards.
Many residences may require more than a casual view to determine the construction class, and an inspection must be made of the interior for reliable determination of quality. However, the experienced appraiser will notice the details of workmanship, design and exterior finish materials, which often indicate the quality to be found inside.
Some items which affect the cost and which may be observed from the exterior are roof pitch and type. Costs of shed roofs, gable and hip roofs generally ascend in that order. Typically, a cut-up roof requires more labor and materials than a simply designed roof.
Eave soffits and gutters, or their absence, and the trim and ornamentation should be observed, as well as the quantity and quality of fenestration.
In most cases, the interior improvements will be commensurate with the exterior, but even when they are not, the exterior design and finish have a great effect on the cost.
Tract developments, where a large number of identical or similar dwellings are built at one time, may effect savings in construction costs. However, in evaluating a single residence in a tract, the appraiser must use his own judgment as to whether there was a saving which is pertinent to his specific appraisal.
Summary: Fenestration, roof pitch, design, materials and workmanship are the major indicators of cost from an exterior view. Fireplaces, porches and appliances are separate items not considered in the quality of the house, although they may be indicative of the quality of other structural items. Interiors may not conform to the exterior quality. The costs included in this program are derived from construction costs of many buildings and are medians of cost ranges.
The following will further describe building components at this quality of construction.
Residence
Foundation: A continuous, reinforced concrete perimeter and interior bearing wall foundation.
Floor Structure: Wood or steel floor joists and subfloor or concrete slab on grade for ground level, all upper floors are wood or steel floor joists and subfloor.
Floor Insulation: Not included in the basic residence cost, add where needed. Three levels of floor insulation are available, for mild, moderate and extreme climates.
Floor Cover: High-quality carpet, hardwood, sheet vinyl and ceramic tile. Floor cover is not included in the basic residence cost. The Floor Cover Allowance is a weighting of those floor coverings typically found at this quality and can be used if floor cover is not itemized.
Exterior Wall: Fenestration is well designed with high-quality sash. Custom ornamentation and trim are used. Framing can be either wood or steel studs.
Roof: Wood or steel rafters and sheathing with many hips and valleys. Heavier roof covers (clay and concrete tile or slate) will include the additional cost for reinforcing the roof.
Interior Finish: Interior walls are taped and painted drywall with high-grade paper or vinyl wall covering, hardwood paneling or ceramic tile. Ample amount of cabinetry, which may include such specialty cabinetry items as a cooking island, bar, desk, etc. High-quality pullman or vanity cabinets. Ceramic tile or highest-quality laminated plastic countertops and splash. Ceilings are mostly painted drywall, with some molding and coving details. Vaulted or cathedral ceilings will usually be found in master bedrooms and entries. Raised-panel hardwood veneer or enameled doors with good-quality hardware. Base, casings and moldings have tight mitered corners. Spacious walk-in closets or wardrobes and large linen storage closets.
Note: Base interior wall height is 8' (except for Excellent Quality). For each foot of variation, the program will add to or deduct from the base cost only, 4% for all masonry exterior walls including masonry veneers and 3% for frame exterior walls.
Electrical: Well-positioned outlets and high-quality fixtures throughout. Good luminous fixtures in kitchen and bath areas.
Plumbing: The default at this quality is fourteen high-quality white or colored plumbing fixtures with one plumbing rough-in are included in the basic residence cost. The fixtures can include any of the following: water heater, laundry tray, tiled shower stall, toilet, lavatory, tub, tub with shower over, kitchen sink or wet bar. Adjustments should be used for any deviation from fourteen fixtures and a rough-in.
Built-in Appliances: None are included in the basic residence cost. The Built-in Appliance Allowance is a weighting of those typically found at this quality level and can be used when appliances are not itemized.
Fireplaces: None are included in the basic residence cost. Add as needed.
Basements
Unfinished: Using the Group Section costs are provided for two common basement wall types: poured concrete and concrete block. Four wall thicknesses are available to choose from: 6 inches, 8 inches, 10 inches or 12 inches. The costs also include a concrete slab floor, floor drain, wood or steel pipe columns to support the living area above, a minimum number of electrical outlets, windows, and an open-riser, softwood stairway. The cost for a basement is not included in the basic residence cost.
Finished: Two types of finish are provided, both of which are additive costs to be used in conjunction with the unfinished basement cost and should be applied only to that portion which is finished.
Minimal Finish: The minimal basement finish includes asphalt or vinyl composition tile floor covering, fiberboard ceiling, painted walls, minimum electrical lighting and incidental heating. The minimal-finish basement cost should be used in conjunction with an unfinished basement cost.
Partitioned Finish: The partitioned basement finish is somewhat similar in both quality of materials and workmanship to that of the basic residence. It is fully partitioned for recreation room, bedroom, laundry room, bathrooms, etc. The costs include ceiling, wall and floor finishes and electrical lighting, as well as heating (allowance for additional ducts and room registers). The cost should be used in conjunction with an unfinished basement cost.
Porches and Breezeways
Porches and breezeways are similar in quality of both material and workmanship to the residence, and are to be priced per square foot of floor area. Costs are provided for three types of floor structures, three types of wall enclosures, a roof and ceiling finish. Floor cover is not included and can be priced from the residence floor cover costs.
Garages and Carports
Garage: Garage costs include a light concrete slab floor and an overhead door, which conform to the basic residence in both quality and construction. For garages with asphalt floors, use the asphalt (this will be a deduction) adjustment.
Detached garages are freestanding, and costs do not include any interior finish. Attached garages share a common wall with the residence, and costs include interior finish for only that wall which is common. Built-in garages have living area both adjacent to and above, and costs include finish for all common surfaces. The Add for Finish costs includes the necessary wall and/or ceiling finish to finish all interior surfaces. All costs are based on square footage of floor area. Basement garage costs are Lump-sum Adjustments and are to be used in conjunction with unfinished basement costs. Both the ceiling and the common wall are finished.
Area over Garage: If the area over an attached garage has interior finish equal to rest of the residence, include that area in the total square footage of the residence and price the garage as a built-in. If this area has minimal (bonus room) or no finish (storage attic), use the attached garage component with full partial living area above. Add for minimal finish, stairs, plumbing, floor cover, etc., as needed.
For living area over a detached garage, use the full exterior walls and high-pitched roof (gable ends). Add for finish: minimal, recreation room or apartment room, also stairs, plumbing, floor cover, etc.
Carport: Carports are a cost per square foot of floor area. Costs include roof cover and structure, necessary structural supports, and concrete slab. The shed or flat roof structure is two-dimensional, and the gable roof structure is a three-dimensional, trussed roof system. For carports with asphalt floors, use the asphalt (this will be a deduction) adjustment.