Glossary

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Square Footage
Square footage refers to the amount of livable space in a building. This does not always reflect the total square footage of a building, however. Unfinished space, such as a basement or a bonus area, is not considered livable until the walls go up and the floors go down. When looking at a real estate listing, the square footage given in the listing refers to the livable space only. Additional notes should list unfinished spaces. Square footage often has an impact on the sale price of a building. This is true for residential, commercial, or industrial properties. While real estate sale prices also reflect neighborhood, condition of the property, and other factors, in general, a house or building with a larger amount of livable space will sell for a higher price than a similar one with less livable space.