1. What is Price Per Square Foot?

Price per square foot is a common metric used in real estate to compare the value of properties by standardizing the cost relative to their size. It's calculated by dividing the total price of a property by its total square footage.

2. How Does the Calculator Work?

The calculator uses the simple formula:

Where:

• Total Price — The complete price of the property or item
• Square Footage — The total area in square feet

Explanation: This calculation standardizes pricing across different sized properties, making comparisons easier.

3. Importance of Price Per Square Foot

Details: This metric is crucial for real estate comparisons, construction budgeting, and evaluating property value. It helps identify overpriced or underpriced properties relative to market averages.

4. Using the Calculator

Tips: Enter the total price in your local currency and the total square footage. Both values must be positive numbers. The calculator will output the standardized price per square foot.

5. Frequently Asked Questions (FAQ)

Q1: What's a good price per square foot?
A: This varies greatly by location, property type, and market conditions. Compare with similar properties in the same area.

Q2: Does this include land value?
A: Typically yes, unless calculating for construction costs only. Be consistent in what you include in your comparisons.

Q3: How does this differ for commercial vs residential?
A: Commercial properties often use price per square foot for leasing (annual rent per sq ft), while residential focuses on purchase price.

Q4: Should I only consider price per square foot?
A: No, it's just one metric. Also consider location, condition, layout, and other factors that affect value.

Q5: How accurate is this for irregular properties?
A: Less accurate for properties with unusual layouts or non-usable space. Adjustments may be needed for proper comparison.