Real Estate Sq. Ft. Calculations = Apples - Oranges - Pears

Home & townhome/condo Buyers ask us... how many square ft. is this property ...as Realtors, we hesitate to answer because the sq. ft. calculation does NOT have a standard of comparison that everyone uses.

Builders typically include/calculate:  unfinished basements & garage floor area into their #'s.

Property Tax Assessors measure:  the outside footprint of the property as it sits on the land.

Realtors:  some include outside decks, patios, porches.

Appraisers:  use finished usable space but place far less value [per sq. ft.] on finished lower levels.

So how should a Realtor fairly answer the Buyer's question?

The National Association of Realtors industry needs a uniform standard for calculating square footage so that all of us [Realtors, Buyers & Sellers across the United States] are on the same page. Until this happens, the public’s interest is compromised. 

For example:  Builders, developers & Realtors (some do and some do not) include decks, balconies, garages, terraces, patios and many other features in their calculations.  The lack of a uniform standard for calculating space makes it impossible to understand one of the most important factors in determining value, as well as make relevant property comparisons.  Ever notice how other sites such as Zillow & Trulia include average cost per square foot - well, there is no fair or standard comparison yet, so Buyer beware!

Carol Best | Coldwell Banker Residential Brokerage

Thinking of Selling - click here

No-Hassle Search of the entire MLS - click here