1. What is Price per Square Foot?

Price per square foot is a common metric used in real estate to compare the value of properties by standardizing the price relative to the size of the property. It's calculated by dividing the sale price of a property by its total living area.

2. How Does the Calculator Work?

The calculator uses the simple formula:

Where:

• House Price — Total price of the property in USD
• Living Area — Total livable area in square feet

Explanation: This calculation provides a standardized way to compare property values regardless of their size.

3. Importance of Price per Square Foot

Details: This metric is crucial for real estate comparisons, property valuation, and understanding market trends. It helps buyers compare properties of different sizes and sellers price their homes competitively.

4. Using the Calculator

Tips: Enter the total house price in USD and the living area in square feet. Both values must be positive numbers. The calculator will compute the price per square foot.

5. Frequently Asked Questions (FAQ)

Q1: What's a good price per square foot?
A: This varies greatly by location, property type, and market conditions. Compare with similar properties in the same area.

Q2: Does this include outdoor space?
A: Typically no. Price per square foot usually refers to interior living space only.

Q3: Why do different properties have different prices per square foot?
A: Many factors affect this including location, condition, age, amenities, and market demand.

Q4: Is higher or lower price per square foot better?
A: For buyers, lower is generally better. For sellers, higher is better. But quality and location matter more than this metric alone.

Q5: Should I only use this metric when buying a home?
A: No, it's just one factor. Consider the overall condition, location, layout, and your personal needs.