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Answers (5)
- sunnyview
- Contributions:25139
It is rough guideline of what you should expect to pay. Any agent that says to look beyond price per square completely is not giving you good advice.
- Reema Sharma, "ReemaSharma"
- Contributions:927
It is only small tool for negotiation purposes
- Vince Curtis, "SoCal Appraiser"
- Contributions:4699
When negotiating price, anything goes. Though 'price per square foot' may be used as a negotiation tool, thats about it. It really only works in areas when the land value is very low and all improvements are conforming. It does not work well in most areas. That said, go for it and use it to negotiate price, if it benefits you. Just understand NO amenities are factored into the equation, including the land, views, pools, condition, upgrades, bedroom count, design, etc...
- David Barr, "dpbarr2000"
- Contributions:280
In a home of very similar sized homes on similar sized lots, price per sq ftoot is a good tool to use, but garages, pools, and bedrooms/baths should also be used to make your comparison as much apples to apples as possible.
- John Stewart, "nwhome.us"
- Contributions:2162
In homes it is not a very valid argument; there are far too many variables that make up a cost per square foot number.
It is easier if you are looking at very similar tract homes, but what if one of them has been updated?
I'd stick with the very simplest negotiation strategy: (this is) what this home is worth to me and (this is) what I'm willing to pay for it.
It is easier if you are looking at very similar tract homes, but what if one of them has been updated?
I'd stick with the very simplest negotiation strategy: (this is) what this home is worth to me and (this is) what I'm willing to pay for it.
How can I use the "price per square foot" to negotiate price?
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