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Ian Watt Personal Real Estate Corporation - Sotheby's International Realty Canada

Blog by Ian Watt

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Price Per Square Foot Is Not Everything For Vancouver Condos

Vancouver Condo Real Estate Video Blog #468 - January 11, 2010

Price Per Square Foot Is Not Everything For Vancouver Condos

Ian Watt video blogs about how too much emphasis is put on dollars per square foot for Vancouver condos and so often many other factors are overlooked such as volume, the strata, outdoor space and more. If you want to voice your opinion or if you don't care for Ian's comments please email your feedback to ianwatt@ianwatt.ca and visit http://www.ianwatt.ca/RealEstateVideos for all the Ian Watt Real Estate Video Blogs.

Ian Watt : Hi Good Afternoon, its Ian Watt in Downtown Vancouver. We always calculate our pricing in Downtown Vancouver for condos on dollars per square foot and I think that's a very good way to calculate what the one unit sells for in the building versus the next unit and it's good rule of thumb but it's not everything and I think we put too much focus on price per square foot. One thing that I think gets over looked is volume. There are a lot of lofts spaces out there that have double height ceilings where you actually getting double the volume you would get with the regular eight foot ceiling. But we can't really calculate that as easily as dollars per square foot. So even though dollars per square foot is important what we also have to keep in mind is how many cubic feet are you getting? What else are you getting, your outdoors space plus your parking, your storage and things like that and also the building condition. The building condition, how great the strata is, if it's a,b or c building. Those things also need to be factored in and dollar per square foot is a good rule of thumb start but it s not the entire calculation for your pricing your condo. My name is Ian Watt and if you have any questions. You can always email me at ianwatt@ianwatt.ca. Thank you very much and have a great day!