Know Your Home's Dollars Per Square Foot Value

By
Real Estate Broker/Owner with Warm Weather Real Estate AZ BR558423000

The value of your home is generally determined by the value of other like-sold-homes.  The measure for comparing recently sold homes is dollars per square foot, determined by dividing the sales price by the measured square footage.

 

Two homes of similar square footage that are located near each other, should usually sell for about the same price.  Since prices and square footage are similar for these nearby homes, their dollars per square foot should be about the same also.

 

As improvements are made to one of these similar homes, the cost or dollars per square foot should increase, compared to the other similar home.  Without viewing the interior of the improved home, it is never easy to determine an exact value.  By the same token, placing a value on any home without viewing the interior can be misleading to some degree.  

 

Online website folks may attempt, but they cannot accurately pinpoint your home’s value, because they have not viewed the interior of your home.  The quality of the interior determines the value.  Any attempted valuation of properties that are “similar” without determining the interior quality, is an error.

 

Knowing your home’s square footage and knowing how your home’s interior quality compares to other homes, will assist you and your agent in selling your home for top dollar.

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