Are you buying a Beacon Hill condo based on per sq. footage.? Would you buy a SUV by the pound?
In the Boston real estate industry, many brokers looking at price per square foot when pricing a downtown Boston condo. While price per foot can be an important measurement when looking at comps in developed neighborhoods, like the Boston Seaport District in a new condo high rise complex. However, this concept can cause problems in more historical neighborhood like Beacon Hill with condominiums located in various locations on the Hill, with different floor plans and amenities:.
To suggest that the cost per square foot of one Beacon Hill home is the same as the average home price per square foot in Beacon Hill is a fallacy. As stated above, These values may be somewhat close together in a high rise condo building located on the same floor, but may be dramatically far apart such as older neighborhoods, or condos that have different types of renovations, sizes and styles.
Ford Motor Company sells the Explorer SUV and LandRover, one difference is that Explorer weighs more. Yet LandRover costs more, Why? The reason is that the LandRover comes with nicer features and finishes. As such, it costs more per pound than its comparable “cousin”. See the foolishness in the idea of price per foot? Every home builder is different and you need to know the differences before you compare price per foot between them.
So, as you can see, there are a lot of things that go into looking at the price per foot when considering purchasinf a Beacon Hill condo Don’t make the mistake of getting drawn in to what seems like a great sales pitch but isn’t based in reality. More often than not, the fallacy of price per square foot is easy to overcome for someone who knows what to look for.
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