Size matters when you’re measuring a home
Size matters when you are paying to rent or buy a home by the square metre.
Working out whether you are paying a fair price for a property depends on measuring the space you live in accurately, but too many floorplans include uninhabitable areas, says the Royal Institution of Chartered Surveyors (RICS).
To rule out mistakes, RICS has published a measurement guide for property professionals that aims to cut out the errors.
RICS says many home buyers and renters pay too much for a property because of inaccurate floorplans that can inflate size, the purchase price or rents by up to 10 per cent.
TV property guru Phil Spencer has been signed up by RICS to get the message across.
“The size of a home – whether buying or renting – can often make the difference in what a buyer or renter will pay for that property,” he said.
“Many companies measure the size of property differently and can notch up square footage by an extra 10 per cent, which can result in them hiking the asking price or rent up.
“It’s vitally important that every room in a property is measured accurately so that buyers and renters pay a fair price, and RICS’ Measurement Matters guide offers just that; a consistent and transparent way of measuring and producing accurate floorplans using RICS’ mandatory Property Measurement Standard. In turn, this will create a fairer, more robust market place, and give buyers and renters the peace of mind that they are not paying for something they aren’t getting.”
The guide details how property professionals should take their measurements to give consumers a consistent result.
The plans should only include internal rooms and should exclude outbuildings, decking, garages and uninhabitable spaces such as lofts, says RICS.
Alexander Aronsohn, RICS director of technical standards, said: “Residential property has been measured inconsistently in the UK for far too long, and there are significant variances in measurement depending on the standard adopted and the measured areas included.”
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