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Published byBertina Briggs Modified over 4 years ago

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The Student Handbook to T HE A PPRAISAL OF R EAL E STATE 1 Chapter 18 Building Cost Estimates

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Student Handbook to T HE A PPRAISAL OF R EAL E STATE Chapter 18 2 Cost Data Sources Cost estimating services Marshall and Swift R.S. Means Etc. Cost index trending The subject cost $750,000 to build seven years ago, so it should cost $875,000 today.

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Student Handbook to T HE A PPRAISAL OF R EAL E STATE Chapter 18 3 Cost-Estimating Methods Comparative-unit method Usually done by appraisers Usually done with a cost per square foot Unit-in-place method Reflects individual parts of construction with all trades and components represented in that part included For example, the cost of a linear foot of wall in place, including all costs

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Student Handbook to T HE A PPRAISAL OF R EAL E STATE Chapter 18 4 Example of Unit-in-Place Method of Estimating Reproduction Cost

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Student Handbook to T HE A PPRAISAL OF R EAL E STATE Chapter 18 5 Cost-Estimating Methods, continued Quantity survey method Estimating cost based on every part and every cost Very time-consuming and not usually done by appraisers

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Student Handbook to T HE A PPRAISAL OF R EAL E STATE Chapter 18 6 Problems Suggested solutions begin on page 428.

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Student Handbook to T HE A PPRAISAL OF R EAL E STATE Chapter 18 7 Problem 6

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Student Handbook to T HE A PPRAISAL OF R EAL E STATE Chapter 18 8 Problem 6

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Student Handbook to T HE A PPRAISAL OF R EAL E STATE Chapter 18 9 Problem 7

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