People always want to use a home's square foot for the dollar to meaure it's value but since a home is not a commodity, every one is unique and therefore, it's value will be as well.
To illustrate this, I will go to an extreme. The most expensive home per square foot is $226,775 according to this article . . .
In contrast, I just pulled up listings in Ada County (Boise, Idaho) of brand new 3 bedroom 2 bath homes with a 2 car garage and the average of the 119 homes currently offered for sale is only $118.46 per square foot.
Which would you choose:
- one square foot of the home in Hong Kong for $226,775?
- a brand new 3 bedroom 2 bath bath 1,619 sq. ft. home in Ada County (Boise area) for $191,596?
Do you buy your vehicle by the pound or your lingerie by the yard? If not, please don't buy you home on a price per square foot basis either!