Home Buying in Irvington>Question Details

Frez, Home Buyer in 07111

Does a higher Price/sqft. mean

Asked by Frez, 07111 Wed Apr 18, 2012

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Robert Bruckner’s answer
I think what you are asking is that you would like to know whether a home is worth a certain amount per square foot. If not, please correct me. Like any other method of determining value, the price per square foot will vary. The insurance company may look at the size of your home (square footage) and come up with a replacement cost based upon the size of the dwelling. The real estate appraiser may compare the size of your home by square footage to that of another property in your neighborhood and reason that your home since it is larger is worth more than the comparable home. In both these instances, the value of the property may be different. A home is only worth what a home buyer is willing to pay for it. In pricing a home, or deciding how much to offer, it is a good idea to look at the size of the home relative to the other homes in the area. However, there are a lot of other factors to consider such as the condition, specific location, amenities, heating system, parking, etc. that determine value.

If you are thinking of buying or selling a home and need more information, please feel free to contact me via email at RBruckner31@gmail.com or by phone (973) 901-1900.

Robert Bruckner
Broker-Sales Associate
Coldwell Banker Residential Brokerage
Caldwell, New Jersey
0 votes Thank Flag Link Wed Apr 18, 2012
Hello Frez,

Please complete your question.

Irina Karan
CDPE - Certified Distressed Property Expert
IrinaKaran@gmail.com
Beachfront Realty, Inc.
0 votes Thank Flag Link Wed Apr 18, 2012
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