1. Building Cost Estimates

2. 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.
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3. 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
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4. Example of Unit-in-Place Method of Estimating Reproduction Cost
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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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