What is the impact of a home's square footage on value?
By Bob Millaway, South Jersey Community Expert & REALTOR®
Square footage is one of the most important factors in home value. In general, larger homes sell for more, but the relationship is not linear. The value per square foot typically decreases as homes get larger. Finished basements, garages, and porches are often valued at a lower rate than above-ground living space. Buyers pay the most for the first 1,500 to 2,500 square feet of functional living space.
Why It Matters
Understanding how square footage is valued helps you price your home correctly and make informed decisions about additions and renovations.
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