1. What is Price Per Square Foot?

Price per square foot is a common metric used in real estate to compare property values. It represents the cost of one square foot of living space and helps buyers and sellers evaluate property prices objectively across different sized homes.

2. How Does the Calculator Work?

The calculator uses the simple formula:

Where:

• Total Price — The complete purchase price or value of the property
• Square Footage — The total livable area of the property in square feet

Explanation: This calculation provides a standardized way to compare property values regardless of the overall size of the home.

3. Importance of Price Per Square Foot Calculation

Details: This metric is crucial for real estate comparisons, investment analysis, property valuation, and ensuring you're paying a fair market price for a property based on its size and location.

4. Using the Calculator

Tips: Enter the total property price and the square footage of livable space. Ensure both values are positive numbers for accurate calculation.

5. Frequently Asked Questions (FAQ)

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

Q2: Does this include all square footage?
A: Typically includes only heated and cooled livable space. Garages, unfinished basements, and outdoor areas are usually excluded.

Q3: Why do price per square foot values vary so much?
A: Location, property condition, amenities, lot size, and market trends all significantly impact the price per square foot.

Q4: Should I only use price per square foot when buying a home?
A: No, it's just one metric. Also consider property condition, location, amenities, and overall layout when making purchasing decisions.

Q5: How accurate is price per square foot for valuation?
A: It's a good starting point for comparison, but professional appraisals consider many additional factors for accurate property valuation.