There is not a single international standard to measure the property but the majority of people recommend square footage as it gives much better data and helps to get an insight into the total area covered. There’s a lot of confusion among people when it’s about calculating and its importance. So, in this article, we will take a look at the important aspects of square footage and how it can be calculated with the help of the online Square Footage Calculator.
Importance of Square Footage
1. Helps To Identify the Real Value
The primary role of square footage is to identify the market value of a property. Mostly when a person sells or rents out the property, an appraiser is hired to calculate the size who will declare the official sale price. Other factors are also considered like the home’s construction year, materials, etc. Still, square footage is the most important one to finalize the value of the property.
A person can’t sell personal property at a justified price until square footage is measured. That’s the same case for the buyers, as no one would be interested in a property until the accurate area is disclosed. So, that’s what makes the square footage important as it helps to find out the real value of the property.
2. Give Insights About Renovation Cost
If you are willing to renovate your personal property, then you need to know the exact square footage of the space to proceed with it. The reason to find out about the area measurement is that it comes in handy to estimate the total expense. Plus, if you are opting for flooring, then it will be the most essential part to find out how many tiles or wood planks you will be needing.
It will give you an insight into the total number of renovation costs per square feet and help you to set the budget accordingly. So, you need to be familiar with the process of calculating area with Square Footage Calculator to find a realistic budget.
3. Property Tax
Square footage helps you to get an insight into the property value and the same goes for the tax which is fined according to the area covered by the property. Suppose that there’s a property that is poorly calculated and square footage is shown more than it is. That will not only manipulate the price but result in high taxation as well.
So, if you know how to calculate the total area with Square Footage Calculator, then it will be helpful for you to pay the justified tax. In addition to that, you can call off the tax of those areas that are on rent but nothing can’t be done until you get to know about the actual square footage.
4. Assist in Finding a Perfect Property
Before you start your hunt to find a home or office, you should know what size of property you are looking for. It depends on the total number of members that will be taking shelter. So, the major factor that is considered while purchasing the property is square footage and that’s what you need to find out according to your requirement.
Once you get to know about the total square footage of property that you need, then it will be much easier for you to find according to your requirement. It will save you time and you will get to know about the estimated budget. So, the bottom line is that square footage plays a great role when it comes to finding a property.
5. Estimated Utility Cost
By finding out the area of your current property with Square Footage Calculator and dividing it with the total monthly expenses, then you will get to know about the utility cost per square foot. It can help you with the management of your expenses and find the perfect value when it’s about renting it out.
If you are interested in purchasing a much bigger property, then affording it once won’t be a problem at all but its expenses can be. So, if you are familiar with the utility cost per square foot, then you can calculate it according to the area of that property that you are interested in purchasing and you will get a prior estimate of the monthly expense.
6. How to Calculate Square Footage
Now you might be very well familiar with the importance of finding out the exact area of a property which makes it essential for everyone to learn the process of calculation as well.
You will have to learn various formulae to calculate space with different shapes like trapezoid, polygon, triangle, ellipse, and others. However, it is not required anymore as you can make use of the online Square Footage Calculator where all you need is to provide the relevant data that you can simply gather with the help of measuring tape.
So, you can keep it simple for yourself by visiting an online calculator and you will get to know the real square footage of your property without needing any assistance from an appraiser.