Real estate abbreviations are often a bit tricky. Most people find them written in descriptions under a listing and don’t know what to make of them. One such abbreviation is “OSE,” which you will find has several meanings.
A quick search online will reveal that these three letters are used in biochemistry and its Latin suffix means “Full.” They also refer to sugars such as disaccharides and polysaccharides.
This Latin suffix also translates to “given to” or “like.” Lastly, OSE also means “full of abounding.” Now, we know what you are thinking — this couldn’t possibly relate to real estate in any way, and that’s right.
The meaning of OSE
To answer your question “what does OSE mean in real estate?,” the right full form of this abbreviation is OSE – Out Side Entrance. If we talk about its definition, OSE stands for an external entrance that can be used in emergencies.
Most residential and commercial properties have an OSE. Since this is one of those seldom-used real estate terms, you won’t find it mentioned frequently. A house has three entrances: the front door, the back door, and the basement door. The suffix OSE refers to the basement door often found in different forms based on the structure of a house.
You will often find OSE written with the acronym MSTR, which means a master bedroom suite with a bathroom and a walk-in closet. A property with such features is usually priced higher as it contains multiple features coveted by most buyers. However, if you are willing to change locations, your real estate agent might be able to find you a home that includes these features.
Before we dive deeper into figuring out this abbreviation and how it relates to real estate, let’s look at a few common abbreviations:
Real estate abbreviations
- FRBO: For Rent by Owner
- FSBO: For Sale by Owner
- ARV: After Repair Value
- HOA: Homeowners Association
- L/O: Lease Option
- RTO: Rent to Own
- APT: Apartment
- ELV: Elevator
- MLS: Multiple Listing Service
- LOC: Line of Credit
- MFH: Multi-Family Home
- SFH: Single-Family Home
- BR: Bedroom
- BA: Bath
- 1C: 1 Car Garage
- 3B/2B: 3 Bedrooms and 2 Bathrooms
- 4B/3B: 4 Bedrooms and 3 Bathrooms
- MBA: Bedroom Has a Private Bathroom
- Bsmt: Basement
- LV: Living Room
- OO: Owner Occupied
Common basement types
A finished basement is technically a room; however, since it does not contain any kind of furniture, it is not included in the number of rooms listed on the MLS. However, it does provide excellent ROI. A house with a master bedroom suite with a bathroom, a walk-in closet, and a basement with OSE is the ideal property that most people look for. So, what does it mean in real estate?
According to Realtor.com, a home with a basement is not subjected to a high tax. However, if the basement is renovated and furnished to create a livable area, the value of a property increases. As a result, its market value will increase and so will the tax. Hence, you need to ensure your real estate agent shows houses without a refurbished OSE.
A basement gives a house added strength along with the added feature of storage space. A basement is always built before the four walls of the house because its design varies. However, some people see the basement as nothing but space that they can use to solve plumbing problems, while others see it as an important room with an OSE for storage. Most basements are rooms built on the foundation level, sunk deep into the ground. If you are on the hunt for construction houses, you might have the opportunity to make some changes before the construction of the structure starts
above the ground.
Here are four common basement types found in most homes:
A basement that is referred to as a crawlspace offers limited access, allowing homeowners to do repair work, such as plumbing. The access to this space is either through an OSE, which is either a latch or a small door often only a couple of feet tall. The crawlspace extends above a house’s foundation. Some of the areas are inaccessible due to obstructions, such as plumbing lines and other components.
A crawlspace has no standing room and turning this space into a full basement can be quite an extensive project to undertake. Usually, home improvement professionals pour concrete footings that help extend the foundation by lifting the house to create more room.
A space that extends below a house’s portion, providing enough room to store wine, produce, and preserve foods is called a cellar. There’s enough space in this basement for a person to stand easily. Hence, it is often converted into a living space. Since there’s plenty of room to walk, homeowners can either choose to turn it into a fully furnished room or extend it underneath other areas of the house. If you decide on the latter option, you will have to make a few foundation revisions before starting the project. A cellar has an OSE that most homeowners keep locked.
A daylight basement is a little bit different than your usual storage space. Half of it is above the ground, and the rest is underground. The former space features some windows that can be opened for fresh air. Since daylight basement stretches across the entire foundation of the house, it doubles the space when finished. Unlike a cellar and crawlspace, a daylight basement does not have an OSE.
Daylight basement specifics
Many houses in the US have simple daylight basements that are done just in concrete walls and floors. For a daylight basement to be converted into a living space, contractors need to do the following:
- Run lighting and electrical outlets
- Close up the concrete walls with drywall
- Paint the walls
- Install flooring (Most people prefer tiles)
A walk-out basement typically has an OSE on the house’s lower level. The best thing about this basement’s structure is that it has multiple access points: one from outside, and the other from inside via stairs. This basement is either on the ground level or is structured in the same way as the daylight basement. It has large windows and plenty of open space to place your furniture. This is one of the reasons it is so easy to convert a walk-out basement into an entertainment room.
You cannot add a walk-in basement to a house easily. To do so, home improvement professionals will have to lift the entire house and make changes in the foundation to support the added structure.
An ensuite closet MSTR master bedroom is the most important room in the house. When we say master bedroom suite, this means that we are referring to a house that has a walk-in closet MSTR with an OSE. In real estate, such features make the house a premium property that usually receives multiple offers. In order to compete for this real estate, you need to have strong financial backing so that the seller sees you as a serious buyer.
So, now you know what the letters OSE (Out Side Entrance) mean in real estate. Keep in mind that no matter what house you choose, make sure that the basement has an OSE because this door comes quite in handy, in case of emergencies. Imagine a fire breaks out in your house and your exit to the outside is blocked because the main entrance is covered in flames. If you have a walk-out basement then you can take the stairs and make your escape through the OSE.