Just a Continuation
Building off of last weeks entry, another major selling point for a home is the amount of square footage. Many times we make comparisons between homes beginning with price per square foot. This week we are taking a look at that figure and what impacts it can have on your real estate transaction.
Square footage is the living space in your home and it greatly impacts the value. In facts it is one of the first things I use when I doing a search for a home for a buyer or to put comps together to help a seller settle on the listing price of their home. While its not the only factor in value, it’s certainly a key component.
Proper square footage should be the accurate measurement of heated space in a home. An important detail to take note of, is the tax record can’t always be used to give an accurate accounting of that space.
The finished room over a garage or an addition to the home can sometimes be excluded from the tax record. Additionally an addition or finished room can’t be included if its “non-permitted space” meaning the proper building permits were not used when adding the addition.
A final note on counted space is you can’t leave heated space to access it. If you leave the home and enter the new room through a garage or car port, that space is not allowed to be counted in the total square footage. All of this can be a sticky situation and you should consult your team of professionals for additional info and clarification.
Many agents will use a square footage range instead a specific number. This is pretty common, and often frustrating. If a specific number is listed it must be accurate within a few percentage points. I love to use licensed appraisers accounting of the square footage. This alone is a GREAT step for a home owner to take care of prior to listing their home.
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Until next time…..
Rose & Womble
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