Estate agent logic

lostinrates

Darth_Marty wrote: »

Thats probably right, cant argue with that.

As for it being an exact science someone earlier suggested that house prices should be determined by a set amount per square foot.........

Thats a great idea isnt it?!

Well, its not an uncommon rule of thumb in London....prices per square foot being compared against others in the same area....roughly encoumpasing the same style of property. This is, as I understand it, because you are buying the square footage to do what you want with: in the big money areas the flat/house having the right square footage is more important than decoration or even layout because the bankers wives/celebrities would traditionally have them designed how they want them anyway. What might provide a rule of thumb in the Royal Boroughs will not however work elsewhere, I agree.

silvercar

lostinrates wrote: »

Well, its not an uncommon rule of thumb in London....prices per square foot being compared against others in the same area....roughly encoumpasing the same style of property. This is, as I understand it, because you are buying the square footage to do what you want with: in the big money areas the flat/house having the right square footage is more important than decoration or even layout because the bankers wives/celebrities would traditionally have them designed how they want them anyway. What might provide a rule of thumb in the Royal Boroughs will not however work elsewhere, I agree.

Generally agree at the top end of the market, but you also need to factor in the size of the plot. Big gardens also attract a premium for the same size footage.

harryhound

Max_Headroom wrote: »

I think there's a bit more to it than that!

Does it have a garage? A view? The end of the road by the main road? Bus stop outside? How good is the layout? What's the state of the decor? New kitchen? New bathroom? What's the garden like? What state of repair is the roof in? Is it north or south facing? Etc etc etc etc.

Houses are far too personal and varied to simply measure the floor space and multiply by a number.

Yes BUT most buyers don't even bother to calculate the size of what they are buying. That is why builders put lots of mirrors on the walls, install "dollshouse" furniture and never have enough cupboards for the clutter of life.
How many mugs buy a fancy kitchen in an impractical small house?

lostinrates

harryhound wrote: »

How many mugs buy a fancy kitchen in an impractical small house?

Surely a buyer buys the mugs to put in the fancy kitchen?:o