1. What is Price Per Square Foot?

Price per square foot is a common metric used in real estate to compare property values. It's calculated by dividing the total price of a property by its total square footage, providing a standardized way to evaluate property costs regardless of size.

2. How Does the Calculator Work?

The calculator uses the simple formula:

Where:

• House Price — Total cost of the property in currency
• Square Footage — Total living area of the property in square feet

Explanation: This calculation provides a standardized metric to compare property values across different sizes and markets.

3. Importance of Price Per Square Foot Calculation

Details: This metric is essential for real estate comparisons, property valuation, investment analysis, and understanding market trends in specific areas.

4. Using the Calculator

Tips: Enter the total house price in your local currency and the property's square footage. Both values must be positive numbers greater than zero.

5. Frequently Asked Questions (FAQ)

Q1: What is a good price per square foot?
A: This varies significantly by location, property type, and market conditions. Compare with similar properties in the same area for context.

Q2: Does this include land value?
A: Typically, price per square foot calculations include both the structure and land value unless specified otherwise.

Q3: How does this differ for commercial vs residential properties?
A: Commercial properties often use price per square foot differently, sometimes calculating based on rentable vs usable square footage.

Q4: Should unfinished areas be included in square footage?
A: Standard practice is to only include finished, heated living areas. Basements and garages are typically excluded unless they're finished living spaces.

Q5: How accurate is price per square foot for valuation?
A: While useful for quick comparisons, it shouldn't be the only metric used as it doesn't account for property condition, layout, lot size, or specific features.