In the appraisal context, what does GLA stand for?

In the appraisal context, GLA stands for Gross Living Area. This term refers to the total area of a residence that is used for living purposes, measured from the exterior walls, and typically includes all finished areas of the home, such as bedrooms, bathrooms, and living rooms. It excludes areas such as garages, porches, and unfinished basements or attics. Understanding GLA is critical for appraisers as it plays a significant role in determining the market value of a property, as larger living areas generally correlate with higher property values.

This definition aligns with how appraisals are conducted in the real estate industry, where precise measurements and definitions are essential for accurate property evaluations.