Price of condo per sq footage, do u include parking or not?

[Imti]

Hi:
I recently bought a condo and was just wondering how does one calculate price per sq. footage. When u calculate price per sq footage, do u include parking in the total price of the condo or just calculate based on the price of the condo?

 

[JayBee]

You usually subtract the price of the parking from the sale price, then calculate the PPSF

Purchase Price = 300K at 700sqft
Parking = 30K

PPSF = (300K - 30K)/700
= $385 PSF

 

[Imti]

Thanks JayBee!

 

[cdr108]

Also, SF is based on liveable enclosed space - hence DO NOT include the balcony/terrace as part of the total SF.

 

[Imti]

Also, SF is based on liveable enclosed space - hence DO NOT include the balcony/terrace as part of the total SF.

Thanks cdr108! Greatly appreciate it.