BUYERS: HOW IMPORTANT IS SQUARE FOOTAGE?
Buyers tend to think bigger is better, but a smaller home may actually feel more spacious than a similar home with a larger footprint. That’s why square footage isn’t an accurate gauge for living space.
Living space is roofed, enclosed, heated, cooled and finished out. But, because there is no accepted standard way to consistently measure interiors, square footage is typically measured from the exterior of the home, as length times width. This is why interiors are always smaller than exterior square footage suggests. Also, walls and insulation can vary in thickness. Some spaces aren’t for walking around, like the empty space beneath stairwells, or the code-required space around water heaters and other systems.
If you’re shopping for homes online, you know there’s a difference between 3,400 sq. ft. and 1,400 sq. ft., but a few feet more or less between similar homes shouldn’t matter. If the home’s interior is well-planned, spaced appropriately, furnished wisely and clutter-free, it will feel like there’s more living space. You can also let in more light and eliminate extra furnishings.
If you’re selling a home, your Berkshire Hathaway HomeServices network professional can help you find ways to make your home appear more spacious.
SELLERS: WHICH ROOMS SHOULD BE COUNTED?
Real estate marketing rules are designed to prevent buyer confusion and to protect sellers from misrepresenting their properties, but sometimes real estate isn’t so black and white. Here are some areas to question.
Additions. Add-ons such as a bumped-out first floor master or den should have accompanying building permits signed off by city inspectors. This prevents you from buying a home with shoddy construction. To confirm, tax roll data should include the updates.
Conversions. Some sellers convert the garage to gain more space, but some conversions aren’t properly permitted. You may have more living space, but the loss of a garage should be reflected in the pricing.
Guest houses and garage quarters. Detached guest house or garage quarters aren’t typically aren’t counted in the square footage of the main home but can be counted as “other features.”
Basements. Basement spaces built below grade aren’t typically counted in the main house square footage. One reason is that any “room” must have an entrance and exit point, in case of fire, whether it’s finished or unfinished.
From state to state, real estate customs vary. Cross check listing data with tax records, copies of permits, and seller’s disclosures to verify the information.