As a result of too much inaccurate information being provided, and the frequent “rounding up”, apparently “way up”, the Greater Cincinnati MLS had eliminated square footage as a search function. We have previously discussed that auditor’s sites can supply incorrect information, including square footage. At this point, it may be our best source of information for square footage. You will find the language “per auditor’s site” on marketing remarks.

We need to know that not everyone calculates square footage the same. It’s different in one geographic area to the next. In some areas it’s customary to simply measure the exterior of a home, multiple, and add the second story if appropriate. This calculation will include closets, garages, bathrooms, and hallways.  Another square footage evaluation requires backing out garage space.  Things get tricky when we try to assign a value per square foot when vaulted ceilings and lofts come into the picture. While often valued in the market, the vaulted ceiling in the 2 story family room may be considered in the square footage equation, but isn’t “usable” living space….unless you enjoy hanging from the ceiling.

Finished basements add additional room for the family to spread out, but unless a portion of the basement is at grade or above, you can not count the additional finished area in the total “usable square footage” equation.

When using square footage to determine the value of your home for market, or if the home you are considering purchasing is priced well “per square foot”, be sure to give only balanced consideration to that factor. There are large 5000 to 6000 square foot production homes in the Cincinnati market that do not have the fine, custom finishes of slightly smaller, custom homes within the same area. Their market value will not reach the same status as the finely appointed homes. Bigger isn’t necessarily better in this case and square footage is best used as a measure of size, not value.  An experienced, market savvy agent can help you make a good pricing decision, or draft a reasonable offer,  using square footage information as only one of many tools.

If you would like an evaluation of your home, just let us know. The RealCincy Group can assist in both Ohio and Kentucky.

More Cincinnati real estate information can be found at RealCincy.com