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Dollars per square foot for finished area

When describing the finished floor area of a home, it is more meaningful if the finished floor area on the first floor is noted so a comparison can be useful or a
dollars/SF can be used.  Without this information, it is impossible to make a meaningful comparison between similar homes.
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June 19 2010 - Pueblo
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Finished floor area is one way to describe square feet, but livable area is another. Meaning the space is not only finished, but it conditioned space (Heating and Cooling).

Also all square footage is used to compute living area. All floors.
Normally it is broken down to first floor, second floor, etc.(we don't have basements as rule here in Texas, but it counts in there somewhere.)

Garages, porches, outbuildings, etc all add value but not like livable area.

Good Luck!

James Callas - Realtor®
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June 19 2010
When determining square footage of a home it is generally in terms of finished and non-finished square footage of a home.  Finished are generally those rooms were people actually reside.  They have finished walls, finished floors and their are full utilities running to those rooms such as heat, electricity and lighting.  Both the walls and floors have covering of sometime on them.  A typical unfinished portion would be a garage.  While it has lighting, the walls are generally not finished and the floor is typically concrete.  As well, there is most likely no actual heating available.  A particular finished room can become an issue if you are trying to figure out where to put your furniture you will be bringing into the home.  In that case, you can measure the length times width and make concessions if the area is not completely square or rectangular.  By-the-way the measurement of square footage of a home varies from state to state.  In some states they require every single room to be measured while in others it is simply measuring the outside of the house and the interior of the walls on upper floors.  Check with your Realtor for the specifics in the area you are house hunting.
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June 19 2010
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My purpose earlier today in posting the subject of "dollars per square foot for finished area" was to find out whether this "rule of thumb" is used by others when assessing the comparative value of a residence.  It is traditional in many areas that this is used by listing agents/sellers so a  prospective buyer can quickly determine whether a listing is priced in their ballpark.  Here in Pueblo CO, a typical rancher (one story) sells for about $120 to $160 per SF main level living area.   Reviewing the Zillow specs for homes sold does not indicate the $/SF, nor does it provide a means to calculate it.  Including a finished basement area in living area, without identifying it as basement will greatly mislead the buyer.

Thanks for your comments.
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June 19 2010
It will be easier for buyers, sellers and all those involves if there were natioanl rules to describe property . Some statess always provide square footage in other s even in the tax records there is missing detailed info.   Leaving much room for interpretation.
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June 19 2010
It will defininetely wil be best and easier if all states had the same requirements for lsitings.  Such as required footage per level and basements. This will make comparing easier.  Right now many times we compare apples and orages due to lack of uniformity and lack of completeness on records, even tax records.
This allow for a good amount of interpretation amd confusison!.
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June 19 2010
It will definitely help if all states had the same rules when lisitng properties.  Some require footage others never used and a mixed.  This makes it hard for all involved. Many times this leads to comparisons of apples and oranges and allows much interpretation which can lead to confusion.
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June 19 2010
 
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