1. What is House Price Per Square Foot?

House Price Per Square Foot (HPPSF) is a metric used in real estate to compare property values by calculating the cost per unit area. It provides a standardized way to evaluate and compare properties of different sizes.

2. How Does the Calculator Work?

The calculator uses the HPPSF formula:

Where:

• \( TC \) — Total Cost (currency)
• \( SF \) — Square Feet (ft²)

Explanation: The formula divides the total cost of the property by its total area in square feet to determine the price per square foot.

3. Importance of HPPSF Calculation

Details: Calculating price per square foot is essential for property valuation, market comparison, investment analysis, and making informed real estate decisions.

4. Using the Calculator

Tips: Enter the total property cost and the total square footage. Both values must be positive numbers to get accurate results.

5. Frequently Asked Questions (FAQ)

Q1: Why is price per square foot important in real estate?
A: It allows for standardized comparison of properties of different sizes and helps identify value discrepancies in the market.

Q2: What is a good price per square foot?
A: This varies significantly by location, property type, and market conditions. It's best to compare with similar properties in the same area.

Q3: Does price per square foot include land value?
A: Typically yes, as it's calculated from the total purchase price divided by the total livable area.

Q4: Are there limitations to using price per square foot?
A: Yes, it doesn't account for property condition, layout efficiency, lot size, or special features that affect value.

Q5: How does price per square foot vary by property type?
A: Different property types (single-family homes, condos, commercial) have different typical price per square foot ranges.