Price per square foot

AFTER purchasing our condo in the downtown area I found that the "advertised" size and the real size were quite different. Of course I was a tad upset about this. When I went to list the unit for sale the realtor advised me that they are only allowed to list a unit - quite simply from "paint to paint"..

So what - that only makes good sense. Yes that makes good sense to you and I but developers seem to live life in a different reality. Some of them will include the patio for example. Some of them will even include some of the common space (like part of the hallway beside your unit). Of course they will try to justify that half of the wall between units is included in the price "that only makes sense" - TO THEM. Try to fit your furniture into the wall.

My continuing research found that some will include the square footage for the parking spot that was "included" in your package. Won't your furniture look great nicely set up in the parkade?

It can easily add up to 100 to 150 or more square foot difference on an average size high rise condo. When we are talking about price per square foot and comparing it to some of the resale offerings you might think you are getting a bargain.

BUT - the resale offerings can only be "listed" as measured from paint to paint - inside the unit.

Example

1000 square foot condo. Paint to paint. $400,000

1000 square foot condo by developers measure = 875 (paint to paint) - Real value $350,000

Sorry but that $50,000 comes right out of your pocket when/if you try to resell the unit.

Their defence also states that they sold a "unit" not the square footage. Be Careful - be careful. When it come to comparison shopping - everybody is playing the numbers game to get you in the door.

Good hunting