Looking around in the bay area/SV listings, I see there is a huge band when we see properties compared from $/sq.ft point of view. In good school district, the smaller houses ( < 1250 sq.ft) can go for > $750 per sq.ft, while larger homes (> 2100 sq.ft) can be in < $600 per sq. ft. How important is this factor when evaluating a house (whether you want to buy or rent)?
How significant is $/sq.ft in a house?
By oneofyou Follow Wed, 25 Apr 2012, 3:47pm 321 views 1 comment
In San Jose CA 95129
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I take it as a rough metric of value. Generally, $1k/SF is considered stupid expensive. In the end, you have to figure out how much space you need and how much you are willing to spend. In the Bay Area, you are going to pay quite a bit per square foot since the "value" is in the land. The house itself, in many cases, is really not worth much at all.
If you divided the property price by the square footage of the LOT, you would probably see a bit more uniformity in any given area.