The square meter price

The square foot price is often used as a quick way to compare homes. This number seems simple and effective, but appearances can be deceiving. While it can be useful to get a quick indication, these prices ignore numerous important factors that determine the true value of a home. Below, we dive deeper into the limitations of the square foot price and why you should look beyond just that one number.

1. Quality: Not all square footage is created equal

The square meter price says nothing about the quality of the home. Consider the finishes, materials used and architectural style. A home with high-quality materials, such as marble floors or a state-of-the-art kitchen, cannot be compared to one where renovations are necessary.

Example

• Dwelling A: Luxuriously finished, with durable materials and a high-quality kitchen.
• Dwelling B: Outdated, with a kitchen and bathroom in need of renovation.

Both homes may have the same square footage price, but the actual value differs greatly. Therefore, it is crucial to consider the quality of the home when comparing.

2. Location differences: The power of a good neighborhood

“Location, location, location” is a mantra in the real estate world for a reason. A property’s surroundings have a major impact on its value, and the square meter price often does not take this into account.

Factors at play:

• Proximity to amenities: Schools, supermarkets and public transportation increase attractiveness.
• Safety: A safe neighborhood tends to have higher prices per square foot.
• Views and garden location: A property overlooking a park is more valuable than one overlooking a parking lot.

Tip: Look beyond the price and assess what the location really has to offer.

3. Classification: practical use counts.

The layout of a home determines how usable the space is. Square meter prices do not provide insight into how practical a home is furnished.

What makes a property more attractive?

• The number of bedrooms and bathrooms.
• Open versus closed kitchen.
• The functionality of the rooms (for example, a separate study).

A 100-square-meter home with a poorly designed layout may be less attractive than a more compact home with a smart layout. This makes it clear that square meter prices can sometimes be misleading.

4. Additional amenities: Value beyond square footage

Many properties offer amenities that are not directly factored into the square footage price, but have a significant impact on the overall value.

Consider:

• Garden or balcony: A south-facing garden is often a huge plus.
• Parking: In cities with limited parking options, a private parking space is golden.
• Common areas: Facilities such as a gym or a common roof terrace enhance the quality of living.

In short: Don’t just look at the bare price per square meter, consider these extras.

5. Maintenance condition: worn out or move-in ready?

The state of maintenance of a home has a direct impact on its value. A well-kept house will logically be worth more than one where there is a lot of overdue maintenance.

Examples of maintenance factors:

• Roof insulation and double glazing.
• A recent renovation or remodel.
• The condition of piping and electrical installations.

A home may have the same square footage price as a comparable property, but hidden costs for renovation make a big difference in the final investment.

6. Misunderstandings about new construction and square footage prices

New construction projects often involve higher square footage prices. This may be due to modern finishes and the latest amenities, but it is still important to be critical here as well. New construction prices can be extra high because of the demand for energy-efficient homes and new construction techniques.

7. Influence of market conditions

Supply and demand in the housing market play a major role in the square meter price. In a tight market, prices can be artificially inflated without always doing justice to a property’s true value.

Conclusion

Square meter prices offer only an indicative figure and should always be supplemented by a thorough analysis of other factors such as quality, location, layout, additional amenities and maintenance condition. By looking critically at these aspects, you avoid making the wrong assumption about a property’s value.

Frequently asked questions (FAQs)

1. Why is the square meter price used so often?
The square meter price is a quick and easy way to compare homes, but it offers only superficial insight.

2. How can I assess the quality of a property?
Review the materials, workmanship and maintenance condition. A building inspection can provide additional clarity.

3. Are amenities such as a garden really that important?
Yes, extras such as a garden or parking lot can make a home much more attractive, especially in urban areas.

4. Why do square meter prices vary so much between neighborhoods?
Location factors such as safety, accessibility and proximity to amenities play a major role.

5. How do I avoid paying too much based on the square footage price?
Engage a real estate agent, compare thoroughly and look beyond just the number. Focus on the overall value the home offers.