$/sqft glosses over local labor costs, level of finish, landscaping, etc., which is why you see people suggesting 1-2% of value per year, though you're right th

$/sqft glosses over local labor costs, level of finish, landscaping, etc., which is why you see people suggesting 1-2% of value per year, though you're right that it would be an improvement to separate out the value of labor/materials from the value of a the bare lot.