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CPSF Formula:
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The Cost Per Square Foot (CPSF) calculation determines the cost efficiency of space utilization by dividing the total cost by the total square footage. This metric is commonly used in real estate, construction, and interior design to compare pricing across different properties or projects.
The calculator uses the CPSF formula:
Where:
Explanation: The calculator accepts input in feet and inches, converts inches to decimal feet (inches ÷ 12), then divides the total cost by the total square footage to determine the cost per square foot.
Details: Calculating cost per square foot is essential for budget planning, cost comparisons, and determining value for money in real estate transactions, construction projects, and rental agreements.
Tips: Enter total cost in currency units, square footage in feet and inches (inches are optional). All values must be valid (cost > 0, feet ≥ 0, inches between 0-11.99).
Q1: Why calculate cost per square foot?
A: It provides a standardized way to compare costs across different sized properties or projects, helping identify the best value.
Q2: What is a good cost per square foot?
A: This varies significantly by location, property type, and market conditions. Always compare with local market rates.
Q3: Should I include all square footage?
A: Typically, only finished, usable space is included. Unfinished basements, garages, and exterior spaces are usually excluded.
Q4: How does CPSF differ in commercial vs residential?
A: Commercial properties often use rentable square feet which may include common areas, while residential typically uses livable square feet.
Q5: Can CPSF be used for renovation projects?
A: Yes, it's commonly used to compare renovation costs per square foot to determine if a project is priced competitively.