Comparing Square Feet and Property Value

When you are shopping for a home, the square feet of the property and the lot should both be of principal concern. There are three main reasons to pay attention to square footage: to know the space you are purchasing, to estimate maintenance costs and to understand price per square foot.

Space for Sale

You should have an idea of how much square footage you need in a home based on your current living situation. The floor plan will also affect your ability to live in the given space, but there is typically a minimum square footage that will provide you with the number of bedrooms and bathrooms you require.

Maintenance Cost

If your home is too large, then you will end up spending too much to maintain it. You should have an idea of the maximum amount of space you would require for the size of family you have. Further, selling a home that is too big for its floor plan can lead to decreased property value.

Price per Square Foot

The most critical item to compare when you are deciding if the property is well-priced is the cost per square foot. Even if one property is more expensive than the other, it may cost less per square foot, letting you know you are paying for the finishing and not the home.

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