Home Buying in 19073>Question Details

Bernadette B…, Home Buyer in Newtown Square, PA

How is a homes sf calculated? Is there any consistency here?

Asked by Bernadette Boyle, Newtown Square, PA Thu Apr 8, 2010

How is a homes sf calculated? Is there any consistency here? I thought it was not including garage and basement...Probably not a good idea like I started to compare by cost/sf.

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2
Bernadette Boyle,
Dollars per square foot is a common trap people fall into with all the information available. IF, all other factors are comparable, lot size, age of the home, quality of the finishes, builder, just to name a few, it begins to have relevance.
I sold a luxury home for a lower $perSqFt than a starter home and they were 2 blocks apart. One went for nearly $1,300,000 the other for under $400,000.
When I do a CMA to determine value this is a consideration, but only one of many. Please don't get hung up on this, for your own benefit.
0 votes Thank Flag Link Thu Apr 8, 2010
Unless you are talking commercial properties, vacant land or getting a home built, you really should not compare properties buy cost per square foot. Even with those reasons, there is location, use and other numbers to factor in.

As for the dilemma of how to calculate the square footage, you would need to get the footprint of the home, multiply the number of floors above grade and subtract the garage space. Basement is not included.

Anything that's backed by Federal funds is 100% of the living area ABOVE grade only. Some municipalities MAY include finished space below grade to increase tax revenues.

I hope that helps,

Terrence Charest
Century 21 Associates
Cell (Preferred): 877.614.1494
Office: 215.659.5250
Fax: 215.659.5550

http://www.HomesForFreedom.com
0 votes Thank Flag Link Thu Apr 8, 2010
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