Institute of Housing Technologies
Improving the Real Estate Information Network
Your home's value on the square footage roller coaster...
These numbers are from a real life example of what appraisers see every day. They measure the home and then check their sqft total against what is listed in the MLS and tax records. The differences are wrong, more often than most people would ever imagine. So, how much difference does it really make?
It changes home values every single day, all across the country.
In this case the difference between 2,967 and 2,412 is 555 sqft. This particular home sold at $156.31 per-square-foot (based on the appraiser's sqft total). If we take 555 sqft times $156.31, then this home's value could potentially change up to $86,752. That's 86 Grand depending on the sqft total the agent uses. Got a few extra dollars lying around you want to waste? Don't get your house measured before you price it and you will lose money. This is real money out of home-seller's pockets and it happens every day, when agents don't have the house measured or rely on inaccurate tax records. Don't be a victim of the square footage game. Size Does Matter!!