When it comes to buying or selling your Vail Valley home square footage is one of the first considerations. What things should you know about the square footage of your home? How will this be calculated when selling? What is the price per square foot? All of these questions can be answered by your real estate agent!
What Does Square Footage Mean
Square footage is the measurement of area. Area is the measurement of any two dimensional space within a set of lines. When they are measuring the square footage of your home ceiling height will not be added into this. An appraiser will be the one who assesses the square footage of your home. They will measure the gross living area of your home. Areas of the house that won’t be included when estimating square footage, are areas below ground level. This would include your finished basement, or outside patio space. Even though these types of spaces in your home can add value to your home. It won’t be included in the price per square footage.
It should be noted that in mountain towns there are many homes built on the side of a slope. An appraiser in a mountain town is knowledgeable with how basements add value to your home. They will take all of this into consideration when comparing your home to comps. Having an appraiser that isn’t familiar with these locations can cause problems when it comes to pricing your home.
Price Per Square Footage
How will they value your home when it comes to the price per square foot the good and the bad! This is a useful unit of measure for comparing many single-family homes. Using price per square foot is also useful if you have many similar homes near you. Price per square foot can be a challenge when you have a very valuable piece of land with a smaller home on it. This will cause the price per square foot of the home to be out of sight. It could not accurately represent the value of the entire property. This also can hurt when they are valuing your home with a home near you. Real estate is not black and white. Again, this is where you will be looking to your real estate agent as an expert. They can add some value and guidance during this process.
Home Valuation Code of Conduct
The Home Valuation Code of Conduct was established in 2009. This ensures that tampering with appraisals to strengthen appraiser independence won’t happen. This code of conduct prohibits anyone who has an interest in the value of a house from getting involved in this process. Among other rules, the buyer, seller, or real estate agent are not permitted to select which appraiser will appraise a home. This keeps everything fair when it comes to getting the correct value of your home completed.
How Can I Help?
I hope this article has shown you that I am a knowledgeable real estate agent who wants to when it comes to deciding amenities close by to your new home. I want to provide my clients with interesting and up-to-date information so they can make informed decisions. If you think that my expertise and positive attitude might be of service to you don’t hesitate to reach out and contact me.
Would you like more information on the Vail Valley/Cordillera area or the real estate market specifically? To receive my detailed monthly market report immediately, click here!
Robert Schilling
Coldwell Banker Global Luxury Specialist
Coldwell Banker Distinctive Properties
(970) 390-0705
[email protected]