“Using price per square foot can be helpful in judging a property’s value, but you have to be careful because there are several factors that can cause the price per square foot of one property to be much higher or lower than a similar house of equal size. For example, price per square foot for a home located in a neighborhood with historic value may be higher than the price per square foot for a similar home in another less desirable neighborhood. Historical value can even change street by street. Other factors that could affect price per square foot are age, overall condition of the house, neighborhood, and specific lot location, such as beachfront, waterfront, or a corner lot.
I recommend talking with a local real estate agent to help determine a property’s value, so you can be sure you’re getting the deal you’re looking for.”
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