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How to figure out square footage?

Started by alurker
almost 15 years ago
Posts: 18
Member since: Oct 2009
Discussion about
Is there a "best practices" way to calculate the square footage of a home in this area? I've noticed a few things that seem odd to me, such as square footage calculated using external measurements (outside of the home), inclusion of basements or cellars that could be finished but are not finished, etc. Also, if there is an outbuilding that needs gutting and renovation, then wouldn't that building be considered to be of a lower value per square foot (talking about an outbuilding that has a c/of/o)? Thoughts? Experiences? Advice? Thanks!
Response by NYC10013
almost 15 years ago
Posts: 464
Member since: Jan 2007

The correct way to calculate sq ft is from inside of outside walls, excluding unfinished space, since that's livable sq ft. Measuring from outside of outside walls is kind of a joke since walls can be 6 inches - 2 feet thick (bigger issue in NYC) - including unfinished sq ft is also a joke. But the reality is every broker out there tries to quote the highest possible sq ft so if you're trying to do comps then you either need to go measure the comps (which will probably be impossible) or just use the same screwed up methodology so you're comparing similar $ / sq ft.

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Response by mym
almost 15 years ago
Posts: 188
Member since: Jun 2009

Agree with nyc 10013. $./sq.foot is never sn exact science-there is no substitute for viewing the place and using your own judgement.

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Response by alurker
almost 15 years ago
Posts: 18
Member since: Oct 2009

Thanks to both of you for answering - your responses are in alignment with what made sense to me, but you know how it is our there...

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