Beginning in December 2011, the REALTORS® Association of Hamilton-Burlington will be taking a big step in improving the real estate data available through the local MLS®, by including square footage measurements.
Some would say that means that much more work we agents do without any guarantee of getting paid, but that aside, it's a big plus for homebuyers who quite regularly ask the square footage of a house and are frustrated by the fact that this information is not available. So in advance of this change to the MLS® data, let's have a quick look at what square footage is and isn't.
What is isn't:
Square footage is NOT the sum of all room measurements.
Square footage is NOT the sum of all living space.
Square footage is NOT the sum of all interior space.
What it is:
Generally speaking, proper square footage by ACRE* standards is measured by the OUTSIDE dimensions of a building, plus the interior dimensions of a half-storey, minus large voids (ie. front door areas that extend two storeys) and garage space... and NOT INCLUDING basements below grade even if they are finished.
This made it somewhat challenging to compare houses in the past. A "2000 sq.ft" house and a house with "2000 sq.ft. living space" could be two different things, especially if the latter included living space in a finished basement. So when you're looking at new homes or especially homes for sale by the owner, it is important to know how they reached their figure.
Fortunately, with the real estate association's addition of square footage to the MLS® information, any listing done by a professional full-service real estate agent should provide fairly accurate and properly-measured square footage. Just one more reason why buyrs should care whether a professional is involved or not.
If you would like a free no-obligation consultation or information on the sales and listing process, or have any other real estate questions, please call me at 905-512-4069 or email Jeff@JeffSellsHomes.ca
*ACRE is the Alliance for Canadian Real Estate Education