How To Use Price Per Square Foot When Valuing A Home

How To Use Price Per Square Foot When Valuing A Home - Price per square foot is a measurement of a home's value, but price per square foot alone is not an effective way to determine the price a home will sell in today's housing market. Home values and home valuation require more effort than simple measurement. #HomeValuation #PricePerSquareFoot

00:00 Introduction
01:21 2 Methods Of Measuring A Home
02:12 Example Of Price Per Square Foot Used In Valuation
03:13 Common Flaws In Using Price Per Square Foot To Value A Specific Home
07:00 How To Get An Accurate Value For A Home

[newwaymortgage]

Great breakdown, Joe! Very informative.

[nikkymanausa]

I agree, price per square foot is just one part of the equation to valuing a home. Computerized evaluation tools will never be able to place value towards the the emotional "feel" a home has - the charm, the character, what makes the home truly "special." It also cannot measure if a home is dysfunctional in some way like not actually having an ensuite master bathroom despite being a 4 bedroom 2 bath home or if it smells like pets. :)

[kevinmilligan]

Thanks Joe! Bottom line, price per sqft is only one of many data points to assess value.

[iupab]

Shouldn’t Excessive Sq footage be an issue also. For example, we looked at home listed at 4300 sq ft. We
love the first level with one exception the primary has only one place for a king bed ..headboard against wall of Windows. The bigger issue is the finished FROG and very large heated and cooled Carolina room. The Frog has a sizable on-suite with additional 320 sq ft of flex space. There’s an additional 350sq ft of separate flex space. For what?? The Carolina Room 12 x 35 should be half the size! They’re applying the cost per sq ft to the entire sq footage when 600 sq ft is not really usable ?

[sunshinemyname]

Is it recommended to buy a home in the Fallschase Neighborhood in 2023?