Building Cost Estimates

Sources of Cost Data Cost-estimating services Marshall & Swift/Boeckh RSMeans McGraw-Hill Construction Dodge Etc. Cost index trending The subject cost $750,000 to build seven years ago, so it should cost $875,000 today. Chapter 28

Cost-Estimating Methods Comparative-unit (calculator) 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 Chapter 28

Example of Unit-in-Place Method of Estimating Reproduction Cost Chapter 28

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 Chapter 28