Saturday, March 10, 2007

Verify sq.ft. of house before you buy

One of the things that some sellers do when they list their house is overstate the square footage of the home. I’ve noticed this happening in Tampa and is a big factor in the final price that you pay. Overstating the square footage of the home based of tax records is the most likely reason. Sometimes tax assessors measure from the outside of the home increasing the avg. home size by 5-8%. When it comes to buying houses you need to make sure you verify the square footage of the home you are buying. Below are 4 ways you can use to help establish the true square footage.
1. Have an appraisel done and make your offer based on a price per sq.ft price that could change based on the appraisel.
2. If you are buying a house that was built by a national or local builder, find out what the model floorplan is and go to their website and verify the square footage from that floorplan.
3. Ask neigbors what the square foot of the house is or a Realtor that is familiar with the area homes.
4. Ask the seller if they have the original floorplan from the builder or a set of blueprints and verify the square footage from that.
A little extra effort on you or your Realtor’s part can pay huge dividends when the avg. sales prices for homes can reach over $200/sq.ft. or more in Tampa. Overstating the size of a 3,000 sq.ft home by just 5% can add about $30,000 to the final purchase price.

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