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Old 09-25-2019, 04:02 PM
 
208 posts, read 126,472 times
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How is cost per square footage calculated?


Is there a formula/metric to plug in?
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Old 09-25-2019, 04:09 PM
 
Location: The Triad (NC)
29,253 posts, read 63,575,933 times
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Quote:
Originally Posted by mrxalleycat View Post
How is cost per square footage calculated? Is there a formula/metric to plug in?
It's a 3rd grade arithmetic function; simple division. $Price square feet
eg: $237,400 1840sq ft = $129/sq ft


However accurately derived at the practical level it's a useless factoid
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Old 09-25-2019, 04:36 PM
 
1,415 posts, read 2,112,876 times
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Quote:
Originally Posted by MrRational View Post
It's a 3rd grade arithmetic function; simple division. $Price square feet
eg: $237,400 1840sq ft = $129/sq ft


However accurately derived at the practical level it's a useless factoid
Oh I don't know, it's a data point, one of many, but I would definitely not call it useless.
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Old 09-25-2019, 05:16 PM
 
Location: OK
2,751 posts, read 6,554,177 times
Reputation: 1913
Quote:
Originally Posted by MrRational View Post
It's a 3rd grade arithmetic function; simple division. $Price square feet
eg: $237,400 1840sq ft = $129/sq ft


However accurately derived at the practical level it's a useless factoid
Except that the $price includes everything else such as garage, outbuldings, etc. which make this unreliable and appraisers don't use it.
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Old 09-25-2019, 05:25 PM
 
465 posts, read 418,289 times
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Take the price of the home, subtract the value of the land, improvements, ancillary improvements, amenities, and updates. Divide the number you have left over by the sq. ft.

Or, use $50/sf, which is pretty standard around the county, at least until you get over $1M.
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Old 09-25-2019, 05:30 PM
 
Location: USA
19,790 posts, read 9,509,365 times
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For rentals, the rental rate per sq. ft. is MARKET based. Are you talking about commercial or residential real estate?
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Old 09-25-2019, 05:40 PM
 
Location: Raleigh NC
10,109 posts, read 7,582,618 times
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^for the commercial market, it is. not for the residential.
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Old 09-26-2019, 12:07 AM
 
326 posts, read 73,687 times
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Quote:
Originally Posted by mrxalleycat View Post
How is cost per square footage calculated?


Is there a formula/metric to plug in?
Math.
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Old 09-26-2019, 01:57 AM
 
7,375 posts, read 4,075,243 times
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Quote:
Originally Posted by Annemieke Roell View Post
Except that the $price includes everything else such as garage, outbuldings, etc. which make this unreliable and appraisers don't use it.
A 1500 square foot house on a 30'x50' lot near a terrible school in a tired urban area listed at $250,000 has the exact same price per square foot as a 3000 square foot house on two acres of ocean view property in a premier school district listed at $500,000. Which is the better buy?

How much per pound did you pay for your last car?
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Old 09-26-2019, 08:20 AM
 
1,415 posts, read 2,112,876 times
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Quote:
Originally Posted by kokonutty View Post
A 1500 square foot house on a 30'x50' lot near a terrible school in a tired urban area listed at $250,000 has the exact same price per square foot as a 3000 square foot house on two acres of ocean view property in a premier school district listed at $500,000. Which is the better buy?

How much per pound did you pay for your last car?
depends on whether or not you are looking for a home or an investment. the former could be the better buy if it's in a area that is gentrifying and seeing faster appreciation.
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