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Chris Kopf Coldwell Banker Mountain Properties

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Why Square Footage is Important Selling and Buying Crested Butte Home

August 29, 2018 By Chris Kopf

Why Square Footage is Important Selling and Buying Crested Butte HomeWhy Square Footage is Important Selling and Buying Crested Butte Home

Square Footage is one of the things that most sellers and buyers know is important. It is an easy way to see the size of a home for example. Usually, the higher the square footage the more valuable the home. However, the square footage of a mountain home can be misleading. This is due to the fact that there’s a difference between liveable square footage and actual square footage. There is also the price per square foot that many sellers and buyers consider. But how it this calculated and does it accurately reflect the value of the home? While square footage may seem fairly simple and straight forward at first it may be more complicated than you think. Here’s everything you need to know about square footage and what it means for you selling or buying your Crested Butte home.

Appraisal Calculation of Square Footage of a Home

An important part of any appraisal is that the appraiser calculates the square footage of the Crested Butte home. A finished basement can certainly affect value positively. But a finished basement or walkout basement will not be included in the appraiser’s calculation of livable square footage. This is because it is “below-grade” per Fannie Mae and ANSI guidelines. “Below-grade” means below ground level by one foot or more, even if three sides of the basement have exterior walls and only one side is below-grade. Your real estate agent will record the total living square footage of the home and this will be represented in the MLS. There will probably be a field specifically for below grade or basement finished square footage as well.

Why Square Footage is Important Selling and Buying Crested Butte HomeIt should be noted that many homes are built on the side of a slope in mountain towns. Many of these homes have very nice basements that have bedrooms with egress windows, exterior doors, etc. An appraiser in a mountain town knows this and knows that many of the comps are similar. They will take this into consideration when appraising the home. Sometimes a lender will hire an appraiser from the big city. This can be problematic when they do not know the local mountain town market.

The Good and Bad About Square Foot Pricing

Why Square Footage is Important Selling and Buying Crested Butte HomeSquare footage is a useful unit of measure for comparing many single-family homes. Using price per square foot is also useful if there are many similar homes to compare to. Condos and townhomes are a good example of when price per square foot works well.

Price per square foot can be a challenge when you are the seller of a very valuable piece of land with a small home on it. Then the price per square foot of the home will be out of sight, and it will not accurately represent the value of the entire property. It’s also a challenge when trying to compare two dissimilar homes.

Real estate is not black and white; in fact, much of it in Crested Butte lands somewhere in the gray area. As a seller this is where you will be looking to your real estate agent as an expert to understand your home and market those benefits to stand out in buyers’ minds. As a buyer you need your real estate agent to add some value to the discussion, and to provide some guidance.

Square Footage Disclosure for Sellers

Why Square Footage is Important Selling and Buying Crested Butte HomeAs a seller, you will be required to sign a square footage disclosure. This document states the square footage of the home and the source for this measurement. The county assessor typically has this information, and it is one of the variables used to determine your property tax. If this number is accurate, then you will use it. You may have done some work on your home that increased the living area square footage which is not represented in the assessor’s number. If this is the case, you can hire an appraiser to measure your home, and this is an acceptable source. Like it or not, your home will be compared with other homes on a price per square foot basis, and the value of your home will increase if you can verify more square footage of living space.

Why Square Footage is Important Selling and Buying Crested Butte Home Final Thoughts

Crested Butte Co Real Estate

If you would like to know more about calculating square footage and how it affects your Crested Butte home contact me directly.

I hope you see the level of detail and time and effort I put into this candid article Why Square Footage is Important Selling and Buying Crested Butte Home.  I have become a Top Real Estate Agent in Crested Butte by helping my clients to make informed decisions.

This is representative of what you can expect from me as your agent.

If you’d like to use my knowledge and experience in Buying or Selling your Crested Butte home – call me.

Thanks,
Chris.

How can I help you with your Crested Butte Real Estate Needs?

Chris Kopf Author Real Estate AgentContact me to help you.  I have been in your shoes – as both a Second Home Buyer and Seller here in Crested Butte.

I have over 30 years of sales and marketing experience and am a top real estate agent in the mountain town of Crested Butte, Colorado representing affluent clients who are buying and selling their homes and properties.

If you are Buying your Crested Butte Home – click HERE to get a free copy of my Book The Complete Guide To BUYING Your Mountain Dream Home.

If you are Selling your Crested Butte Home – click HERE to get a free copy of my Book – The Complete Guide to SELLING Your Mountain Dream Home

To see Crested Butte Homes For Sale or search the MLS – visit ChrisKopf.com.

The Crested Butte Real Estate Market is very active. Click this link to see my monthly Crested Butte Real Estate Market Reports.

Chris Kopf
Global Luxury Property Specialist
Coldwell Banker Bighorn Realty
(970) 209-5405, or chriskopf@bighornrealty.com

 

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Chris Kopf, Coldwell Banker Mountain Properties
305 6th Street
Crested Butte, CO 81224
  • Chris.Kopf@CBMP.com
  • (970) 209-5405

Testimonials

Bobby Nichols

"The first moment we met Chris, my wife and I knew he was all about what is happening in real estate sales in Crested Butte. He knows his job, the marketplace and the innovative ways to market your home in today's electronic internet space. A real professional that understood us and our needs in handling a very successful sales transaction. "

 
Crested Butte Real Estate by Chris Kopf
2015-02-11T13:45:19-07:00
"The first moment we met Chris, my wife and I knew he was all about what is happening in real estate sales in Crested Butte. He knows his job, the marketplace and the innovative ways to market your home in today's electronic internet space. A real professional that understood us and our needs in handling a very successful sales transaction. "  
https://chriskopf.com/testimonials/bobby-nichols/

Jeff Hollings

Chris is outstanding! We recently bought a second home in Crested Butte and Chris did a great job throughout the whole process. He has a thorough understanding of the market and the benefits and drawbacks of various locations. He was very patient with us as our preferences evolved throughout the search. He gave us valuable information on which to negotiate the purchase. He had great follow-up during the inspection/closing process (when we were not in town) and made sure all of the commitments made by the seller were properly completed.
Crested Butte Real Estate by Chris Kopf
2015-02-11T13:46:48-07:00
Chris is outstanding! We recently bought a second home in Crested Butte and Chris did a great job throughout the whole process. He has a thorough understanding of the market and the benefits and drawbacks of various locations. He was very patient with us as our preferences evolved throughout the search. He gave us valuable information on which to negotiate the purchase. He had great follow-up during the inspection/closing process (when we were not in town) and made sure all of the commitments made by the seller were properly completed.
https://chriskopf.com/testimonials/jeff-hollings/

James Brennan

This was our first experience trying to purchase additional land with hopes of building a home. Chris was tremendously helpful throughout the entire process and his professionalism showed.
Crested Butte Real Estate by Chris Kopf
2014-10-14T17:59:24-06:00
This was our first experience trying to purchase additional land with hopes of building a home. Chris was tremendously helpful throughout the entire process and his professionalism showed.
https://chriskopf.com/testimonials/james-brennan/

Jane Saltzman

Chris was terrific to work with. The house sold faster then I ever expected! He was particularly helpful for this second home owner that couldn't always get there to take care of house issues. Thank you Chris!!!
Crested Butte Real Estate by Chris Kopf
2015-02-11T13:49:37-07:00
Chris was terrific to work with. The house sold faster then I ever expected! He was particularly helpful for this second home owner that couldn't always get there to take care of house issues. Thank you Chris!!!
https://chriskopf.com/testimonials/jane-saltzman/

Georges Lussier

The thought of a short sale was intimidating, but Chris made the experience very easy with lots of guidance from start to finish. I would highly recommend Chris for any Real Estate need buying or selling.
Crested Butte Real Estate by Chris Kopf
2014-10-14T18:05:40-06:00
The thought of a short sale was intimidating, but Chris made the experience very easy with lots of guidance from start to finish. I would highly recommend Chris for any Real Estate need buying or selling.
https://chriskopf.com/testimonials/georges-lussier/

Frank Stringer

Chris Kopf is a wonderful person to work with on any real estate matter you may have in Crested Butte. He is extremely knowledgeable of all elements of the Crested Butte area. He helped us recently to buy a new second home in Skyland and the entire experience was first class under Chris's guidance. I would highly recommend him to anyone who has a real estate need in Crested Butte.
Crested Butte Real Estate by Chris Kopf
2015-02-11T13:51:04-07:00
Chris Kopf is a wonderful person to work with on any real estate matter you may have in Crested Butte. He is extremely knowledgeable of all elements of the Crested Butte area. He helped us recently to buy a new second home in Skyland and the entire experience was first class under Chris's guidance. I would highly recommend him to anyone who has a real estate need in Crested Butte.
https://chriskopf.com/testimonials/frank-stringer/

Paul & Julie Keesee

Chris was quite helpful in showing us homes in the area we were interested in and contacted us when new listings were available. We not only consider him our realtor but also a friend.
Crested Butte Real Estate by Chris Kopf
2014-10-14T18:05:59-06:00
Chris was quite helpful in showing us homes in the area we were interested in and contacted us when new listings were available. We not only consider him our realtor but also a friend.
https://chriskopf.com/testimonials/paul-julie-keesee/

Jim & Sandra Wickham

Chris' patience and persistence paid off for us in finding the right house for the right price. We would highly recommend Chris to any potential buyer.
Crested Butte Real Estate by Chris Kopf
2014-10-14T18:06:18-06:00
Chris' patience and persistence paid off for us in finding the right house for the right price. We would highly recommend Chris to any potential buyer.
https://chriskopf.com/testimonials/jim-sandra-wickham/

Tom & Mary Aton

It was a great experience working with Chris, after showing me what I thought I wanted, he advised me of the pros and cons on the different condos and found one that I am thrilled with.
Crested Butte Real Estate by Chris Kopf
2014-10-14T18:06:31-06:00
It was a great experience working with Chris, after showing me what I thought I wanted, he advised me of the pros and cons on the different condos and found one that I am thrilled with.
https://chriskopf.com/testimonials/tom-mary-aton/

Dan Aquaviva

This agent has a very strong knowledge of the local area. He was very helpful in screening properties for potential purchase.
Crested Butte Real Estate by Chris Kopf
2014-10-14T18:05:26-06:00
This agent has a very strong knowledge of the local area. He was very helpful in screening properties for potential purchase.
https://chriskopf.com/testimonials/dan-aquaviva/
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Crested Butte Real Estate by Chris Kopf

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