Price Per Square Foot?

[jackimoya]

I only look at $/sf at the end, so if mine is outside the range I can comment.
Otherwise it means doodley squat. I do not use that term in my comment.

That's a good point. I honestly never even look at it on the grid.

 

[Terrel L. Shields]

I always try to vet the land value, and subtract it. The balance sans any pool, outbuilding, etc. is the "house" value. Then $/SF makes more sense between equals (in condition, age, quality) leaving only "size" to contend with. agree w/ above...

therefore the 1000sf house will cost more per square foot than the 1400sf house.

In fact, we use a flat line X dollars per SF for excess SF but in reality it could be an exponential scale where larger usually means more bathrooms, more appliances, etc. So the larger the SF difference in the homes, the higher change in value with more "things" should be offsetting the economy of scale of mere size.

 

[RSW]

I always try to vet the land value, and subtract it. The balance sans any pool, outbuilding, etc. is the "house" value. Then $/SF makes more sense between equals (in condition, age, quality) leaving only "size" to contend with. agree w/ above...
In fact, we use a flat line X dollars per SF for excess SF but in reality it could be an exponential scale where larger usually means more bathrooms, more appliances, etc. So the larger the SF difference in the homes, the higher change in value with more "things" should be offsetting the economy of scale of mere size.

Remember that cost does not necessarily equate to value.

 

[Terrel L. Shields]

cost does not necessarily equate to value

Another principle is that prudent well-advised people don't pay more than it costs new

 

[Tim The Enchanter]

Remember that cost does not necessarily equate to value.

Made that comment in appraisal of a high rise condo, the guy bought it and spent a bunch more cash.
Comment made in effort to deflect blowback.