How Big is a House Really?
“The beauty is in the eye of the beholder” is a cliché but relevant phrase when in reference to appraising homes. It also can be said in reference to the process of measuring your space. Because there is no national standard in calculating square footage, appraisers, builders, developers, real- estate agents, tax assessors, and architects may each measure spaces differently. This can be describes as the 1,700 square-foot discrepancy.
Some calculate the space based on a home’s overall “footprint”. Others include only interior dimensions of finished living space. The differences in dimensions also vary by region; some regions count balcony space and basements as square footage, while others don’t.
So what’s a buyer to do about this phenomenon? First, a prospecting buyer needs to find out from their real estate agent what the source of their measurements are and what is included in the price of the house. How big is the garage? Is there a private outdoor terrace? Is there a basement?
In order to get the most out of your home, you need to focus on what’s included in the buying price rather than the big number!