When shopping for a home, what is often overlooked is its price per square foot. Granted, a home’s for sale price is often seen as much “sexier” in the eyes of a purchaser, it is actually the price per square foot that tells you whether or not you are getting a good deal.
It is important to note that as important as it is, price per square foot doesn’t tell you much on its own. This information is best used when looking at similar homes in the immediate community or neighborhood. So when you believe you’ve settled on a particular home, do a quick search on similar homes that are for sale or have been sold to see how the price aligns. While price per square footage should vary between states, cities and even even neighborhoods based on desirability, etc., there shouldn’t be a huge discrepancy among homes in an immediate area.
Knowing a home’s price per square foot is going to tell you whether or not the home is over or underpriced. This gives you the knowledge to leverage to negotiate a better deal or to swoop on the property immediately.
Speak with a member of the Gore Group Realty team to get all of your Henderson real estate questions answered.