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(EP: 176) Does 'Price Per Sq Foot' Have Any Relevant Meaning?
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When you look at house or condo listings, you will see the price, the size of the home and then the ‘price per sq foot’.
But how relevant is that number? Buyers might think that a $200 per foot home is a better value than a $300 per foot.
Not so fast. Even if both homes are in generally the same condition and in the same neighbourhood, there are a lot of other factors that go into pricing.
For example, a 2-storey home is cheaper per foot than a bungalow. And a Bi-level or raised bungalow is the highest priced of all.
Also, finished basements and garages add value to the home, without adding actual square footage, so this increases the ‘dollar-per-foot’ figure as well.
When buying a home, in any market, make sure you have an experienced agent in your corner. In Winnipeg, call me at 204-333-2202 to help you find your next house or condo.
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