We all know how many bedrooms our homes have, but ask about square footage, and you’ll likely get a blank stare. Turns out, 3 out of 5 of us haven’t got a clue about our property’s actual size – and that’s a big problem, especially for buyers.

Think of it like this: you wouldn’t buy a car without knowing its engine size, would you? Square footage is just as crucial when it comes to property.

Why Square Footage Matters

Sure, bedrooms are important, but they don’t tell the whole story. A four-bed house could be a spacious haven or a cramped nightmare – square footage reveals all.

Here’s why it’s crucial, according to property website Zoopla:

• Accurate Comparisons: It lets you compare properties fairly. A three-bed with 1,200 sq ft is going to feel a lot roomier than a three-bed with 900 sq ft.
• Spotting Bargains (or Rip-offs): Ever heard of pound-per-square-foot? It’s like the price-per-kilo of property. You can use it to see if a property is overpriced for its size.
• Understanding Value: Larger properties often have a lower pound-per-square-foot cost, meaning you get more bang for your buck.

The Great British Square Footage Mystery

While other countries, like America and Australia, use square footage as a standard, in the UK, it’s strangely absent from most property searches.

Experts say this is because most buyers start their search based on the number of bedrooms they need.

But this approach has a flaw. A massive one-bedroom flat might have the same square footage as a cramped three-bed, but it won’t meet the needs of a growing family.

The Price-per-Square-Foot Puzzle

Here’s where things get really interesting. Across the UK, flats are more expensive per square foot than houses. Why?

• Location, Location, Location: Flats are often in pricier urban areas where land costs more.
• Extra Perks: Think gyms, concierges, and communal gardens – these amenities bump up the price.
• Economies of Scale: It’s cheaper to build bigger, hence the lower cost per square foot for houses.

Interestingly, the price-per-square-foot can also reveal trends. Between 2015 and 2023, the price per square foot for flats remained stagnant, while houses saw a significant increase. This reflects the post-pandemic desire for more space and a shift away from city living.

Bigger Isn’t Always Better…Or Is It?

Here’s a head-scratcher: both flats and houses get more expensive per square foot as they get bigger. Why?

It all comes down to desirability. Three-bed flats are often penthouse suites or in swanky buildings, while four-bed houses are usually detached with larger gardens – these desirable features come at a premium.

Location, Location, Location: The Square Footage Story

As expected, London takes the crown for the highest price-per-square-foot at £692. The South follows at £377, then the Midlands at £260, and lastly, the North at £241. That means you could get more than twice the space for your money in the North compared to London!

Beyond the Numbers

While square footage is a powerful tool, it’s not the be-all and end-all. Two properties with identical measurements can feel vastly different. High ceilings, clever layouts, and good use of light can make a space feel much larger.

Some developers are catching on, building properties with higher ceilings and smarter designs to maximise the sense of space.

The Bottom Line

So, next time you’re browsing property listings, don’t just look at the number of bedrooms. Factor in the square footage and the price-per-square-foot. You might be surprised by what you find – and you could bag yourself a bargain in the process.