In an attempt to compare homes, one of the common denominators has been price per square foot. It seems like a fairly, straight forward method but there are differences in the way homes are measured.
The first assumption that has to be made is that the comparable homes are similar in size, location, condition and amenities. Obviously, a variance in any of these things affects the price per square foot which will not give you a fair comparison.
The second critical area is that the square footage is correct. The three most common sources for the square footage are from the builder or original architectural plans, an appraisal or the tax assessor. The problem is that none of sources are infallible and errors can always be made.
Patricia "Patty" Mortara | Hunterdon Realty Group | Flemington, NJ
Office: 908.782.0095 | Mobile: 908.349.0095 | HunterdonRealty.com
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