Hello World! Welcome Friends! Buying a home is very likely the biggest investment you’ll ever make in your lifetime. It is for most Americans. As such, you’ll want to be very careful during your shopping process.
If you’re in the market for a new home, it’s important to understand what you’re paying for and how to navigate the market itself. Understanding the price per square foot of a home can be important in gauging if you’re actually getting a good deal or not.
What do you need to understand about this topic when buying a house? Read on and we’ll walk you through the basics.
What Does Price Per Square Foot Tell You?
All the houses within a neighborhood may differ in size quite vastly. In this sense, it can be difficult to get a proper idea of the house you’re looking at is priced at a fair value.
One home simply may be different than another, thus giving a reason for their difference in price. If you’re actually worried about getting a proper deal, the better way to compare home prices will be by looking at the price per square foot.
This will give you a much stronger comparison point. If the average price per square foot in the neighborhood is $100 but the house you’re looking at is $150, that would give you serious cause for concern.
You can then use this fact to negotiate the price down. You’d just need to argue that other similarly sized homes in the area are being sold for a lot less.
You can read more about trends in square footage home prices at pierrecarapetian.com.
How to Find Price Per Square Foot
It’s easy to see the asking price for a home, but how can you quickly determine what the actual price for a home is based on the square footage?
If you’re lucky, the realtor that is helping to sell the home will have done this work for you. The price per square foot should be listed prominently on the listing for the home and on the printout that you would get at an open house.
At the very least, these listings should have the square footage of the home listed. Getting the number you’re looking for will be as simple as dividing the asking price by the square footage listed.
Just remember that this number alone won’t provide you with everything you need to know. You’ll need to look up other homes within the same neighborhood and zip code. Compare with the median and average costs and ensure you’re in the clear.
Comparing Home Value
If you’re navigating the housing market this summer, you’ll certainly want to know how to ensure you’re getting a good deal. Understanding how to find the price per square foot of a home can be essential in navigating a busy market.
Need more help finding a great home? Keep scrolling our blog for more advice.
Click the links below for any posts you have missed:
The Main Benefits of Playing Chess
Why Your Home Needs an Air Conditioning Unit
Is Your House Ready To Go On The Market?
How to Choose the Best House for You and Your Family
Simple Ways to Spruce Your Home’s Exterior
Effective Hacks to Improve Your Sleeping Quality
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