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Is it true that the more square footage of home that you get built the better the per square foot price is? In other words the person that buys a 2500 s.f. home will pay more per s.f. than a person who is building a 5000 s.f. home.
As a rule of thumb yes this is true with all the features, location ect being the same. Your fixed costs like the cost of the lot are spread out over more footage. It's also cheaper to build the 2nd floor of a home then the 1st floor.
Location: Halfway between Number 4 Privet Drive and Forks, WA
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Yes, that's the way I've always understood it. And a one story square footage would generally be more than a two story's square footage, if the square footage were equal in size.
Rakin is exactly right...as far as he goes with it. There are fixed costs (the price of the land, development of the lot, etc...) that have to get spread over the total price. For that reason, small houses tend to have a LARGER dollar/square foot value than larger houses (when all other components are equal).
However, change the size of the lot (.1 acre versus 1.0 acres); the amenities in the house (granite counters, hardwood floors, etc... versus laminate, and vinyl) and the dollar per square foot value is ALSO going to be significantly impacted.
Dollar per square foot is a good measure of home value ONLY when you are comparing similar homes.
DaveP
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