Today’s real estate mathematicians have attempted to reduce the purchase of a home to a mathematical equation. The basic concept behind the equation is the assumption that all homes have walls, a roof, windows and doors. Because all homes have these features, they should be comparable and measured similarly. This method of measurement is called “price per square foot.” While the scheme is phenomenal, the math is a little fuzzy. I fear a good part of the equation has been overlooked. In the light of de-fuzzing mathematics, Boone Homes, a Richmond home builder, has examined the equation and found a few items to help de-fuzz this real estate math.
The more Nostalgic the home, the more it is missing. I’m sure this makes sense. The older the home, the more nostalgic and quaint it appears. The downside to the nostalgia is we forget how much isn’t included. Some of the items that are included in nostalgia are: (more…)