It's not uncommon for home buyers to focus on price per square foot when home shopping. It's an easy thing to figure out. Seller wants X dollars, home has Y square feet of living space...and a simple calculation and you've got $$/ft2. Pretty simple right?
And then you can use that number to compare House A to House B, right? Well maybe yes, maybe no.
If House A and House B are on the same street, built by the same builder, have similar features, size, lots, etc., then you MAY have an apples to apples situation and it would be fair to compare the two.
However, if Home A is in Happy Acres and House B is in Paradise Enclave, we need to look beyond square footage.
For example, all or any of the following could be different and drive a significant difference in prices between two homes:
1. Age of home
2. School District
3. Community prestige
4. Floor plan
5. Remodeled or out of date?
6. Negative factors (busy road, prone to flooding, death in the home, etc.)
8. Community amenities
9. Ease of commute
10. Lot size, shape, usability
And that's just scratching the surface of what can make a huge difference in pricing between Home A and Home B. Differences that can literally amount to tens of thousands of dollars for homes that on the surface might appear to be the same.
Trust and listen to your real estate agent. An experienced agent knows how to take into account all the factors that matter and tell you if a home is priced right, a real bargain, or grossly overpriced. Then you can act accordingly.
Ready to talk buying or selling a Cincinnati area home? Call Bill of The Liz Spear Team of RE/MAX Elite at 513-520-5305 or email Liz@LizSpear.com.
Serving Cincinnati area home buyers and sellers,
Liz and Bill aka BLiz
Serving Warren County Ohio & Adjacent Areas
The Liz Spear Team of RE/MAX Elite
Elizabeth Spear, ABR, CRS, Ohio License SAL.2002007747
William (Bill) Spear, CRS, Ohio License SAL.2004011109 Kentucky 77938
Ask for us by name if you visit the office!
Two locations: Lebanon & Mason, OH
Bill Direct: 513-520-5305
Liz Direct: 513-265-3004
Search Homes: Http://WarrenCountyOhioRealEstate.com
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