Price per square foot is a metric used in home buying scenarios to better understand the price you are paying for the livable area of a home. The lot size is not taken into account for this, strictly the square footage of the livable area of the home.
Price per sq ft does not take into account every factor that plays on the price of a house or its rent. So generally, there is no good price as every situation is different. For example, a prime location can demand much more than a house in a less desirable area as well as the size of the entire lot for the house. You must factor in all of these other variables when you get your answer to decide if the result is good for you and your current financial situation.
No, there is no possible chance of price per square foot even being close to zero, let alone negative.
Price per square foot strictly utilizes the square footage of the house and its purchase price or annual rent price. The square footage of the house must pertain to the livable sections of the house, not the entire lot size, or other factors.
Create Date: October 25, 2024
Last Modified Date: October 25, 2024
