This past weekend, we had the pleasure of visiting our mid-sized mid-Western hometown, where houses routinely sell for around $150 per sq ft or less. On this visit, we stopped by the going away party of one of our friends (who is moving to San Diego) and has recently sold his 1600 sq ft home.
Us: How many square feet do you have here?
Friend: Around 1600.
Us: Really? It seems so much bigger.
Friend: Well, 1600 is the "liveable space". It doesn't include the unfinished basement, the attic storage, the front patio or the backyard.
Us: Huh. That's fascinating. In Manhattan, you can build a shelf in a closet and landlords would include that in the square footage.
Friend (standing in 500 sq ft living room): Really? Gosh, I bet our house would fetch like $500k in Manhattan.
Us: Yeah...the room we're standing in would fetch $500k.
Posts
