Does size matter?
Pull out your rulers, your tape measures, your sonic measurement devices and start doing some calculations.
When buying a home (or pricing your home for sale), the #1 criteria, as most everyone knows, is LOCATION. There's no dispute about that. What's next? How about size, condition, age, and amenities.
How much does size really matter?
Here's an example taken to the extreme:
There are two homes currently on the market in Old Town Alexandria -- one is a $3 million plus home with over 8,882 square feet of finished living space; the other, a studio condo priced at $209,000 and offering a mere 380 square feet (can you actually fit a bed? and a dresser?)
Let's do the math!
HOME #1: $3,195,000 divided by 8,882 square feet =
HOME #2: $209,000 divided by 380 square feet =
Surprise the studio condo space is much more expensive!
Of course this is an absurd example, but it just goes to show that square footage is not always an accurate measurement when it comes to value unless all other criteria about the properties are similar.
For instance, the least expensive home on the market in Alexandria is priced at $105,000 and measures 1005 square feet. The most expensive home is 32 X more expensive at $3,350,000, but it certainly is not 32 times larger, offering just 5000 square feet.
I'd love to help you find a home in Northern Virginia whether you can survive in 380 square feet, or you want a little more room to stretch your legs.
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