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Square footage is determined by measuring the outside of the walls, not the inside.
If the floorplan and layout works for you, why be so hung up on the EXACT square footage? Sure, you want the measurements to be accurate so you know what you're getting, and the bank needs to know that the value is there. But in my many years as an appraiser, I have found that people who get hung up on square footage are generally into a "keeping up with the Joneses" mentality. Or "my house is bigger than yours". I've seen people absolutely fall in love with a house, only to discover that the square footage was not as much as they thought it was. Then all of a sudden they wouldn't be caught dead in it.
Did you make an offer on the house sight unseen or did you enter the property before you made an offer? If you viewed the property and the size worked for you to the point that you made an offer what difference could it possibly make if someone's measure was not accurate?
As a seller I would not offer a concession for a discrepancy in square footage.
Did you make an offer on the house sight unseen or did you enter the property before you made an offer? If you viewed the property and the size worked for you to the point that you made an offer what difference could it possibly make if someone's measure was not accurate?
As a seller I would not offer a concession for a discrepancy in square footage.
Totally agree. You saw what you were making an offer on. The house should be no less functional than what you were thinking when you saw it.
I can tell you about measuring square footage on commercial properties. Two industry trade groups, BOMA and IFMA have a differant formula for measuring square footage and both are considered right. One uses a total building square footage formula and the other uses a usable space formula.
On that stipulation couldn't a home also have differant legal square footage amount? Someone mentioned measuring the outside diameter of a building. Lets say that you have a 2 or 3 story home. What about the stairway? Do you consider it or deduct it from square footage? I am sure that other scenarios could come into the picture. I for one would want to measure the size of each room to determine usable square footage even if that is not the normal way to determine the size of the home. For me if I am happy with the size and it meets my needs and the price is right then why hold a deal up because of this issue?
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Just to add confusion to the fire, I think that there are actually 3 standards in the US (doesn't make it much of a standard does it?) used to determine the square footage.
Houses aren't priced by the square foot, flooring is.
In the local real estate class, they teach that if you have 10 people (in the industry, so real estate agents, appraisers, inspectors, carpet cleaners, whoever) measure a house, they will get 10 different answers. The difference between the lowest and highest can be substantial.
For that reason, our listings have to say where the measurement came from, so the buyer can "measure" how accurate it might or might not be. If it is from the building plans, it is likely to be more accurate than if it is "agent measured". An appraiser may not subtract out something like a clear through 2nd story entrance area, so might overestimate on a two story.
However, it is important to note that USABLE square footage is much more important than ACTUAL square footage. I would much rather buy a 1250 square foot house with no hallways than a 1500 square foot house with a wasted 200 square feet. The number is just a number, how it lives is much more important.
Square footage is determined by measuring the outside of the walls, not the inside.
If the floorplan and layout works for you, why be so hung up on the EXACT square footage? Sure, you want the measurements to be accurate so you know what you're getting, and the bank needs to know that the value is there. But in my many years as an appraiser, I have found that people who get hung up on square footage are generally into a "keeping up with the Joneses" mentality. Or "my house is bigger than yours". I've seen people absolutely fall in love with a house, only to discover that the square footage was not as much as they thought it was. Then all of a sudden they wouldn't be caught dead in it.
I could care less about the jonses, but 20% is a big swing in squarefootage. Plus, I want to know that I'm paying a fair price for the home - and price per square feet tends to be one indicator of value.
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