DOES PRICE PER SQUARE FOOT MATTER WHEN BUYING A NEW HOME?

Yes! Reviewing a builder’s price for square foot for a new construction home is a one task every new home buyer should do before signing a contract. While some home buyers may consider this data point immaterial, price per square foot varies drastically between home builders and geographical areas. It helps differentiate one new construction builder from the rest.
Let’s use Ann Arbor, Michigan as a reference point. While the latest monthly average for price per square foot was $124, the highest figure was closer to $500. This average was down from $130 a year ago and can still change dramatically based on the exact location within Ann Arbor. This number will also see larger shifts as a new home buyer moves out of the city to the quieter areas of Livingston county or Oakland county.
Regardless of your location, price per square foot is a good reference point to measure home builder against home builder. While the feature list, school district, and area crime rates will alter this number, it should not change significantly if the comparison is done in a relatively small geographical area and for the same level of home.
Elkow Homes utilizes price per square foot to measure the true value provided to new home buyers. Elkow Homes offers the lowest price per square foot for South Lyon and Lyon Township homes within the same home class. A $90 per square foot, home buyers receive their dream house at an economical and affordable price. This focus on value and quality is the focus of the Elkow Homes’ pledge.

Article by:  Jennifer Elkow