Cost Approach Booklet & Instructions
FREE Cost Approach calculation worksheet…
Many use Building-Cost.net as a source for completing residential Cost Approach details in appraisal reports.
Craftsman Book Company is the owner of this service, and the web site offers a FREE Cost Approach calculation worksheet, which can be printed to PDF and included in reports, and also a printed hardcopy for the workfile if desired. I began using and promoting this web site years ago.
Not long ago, the web site above was updated, to provide more specific reporting items, which in turn enables a more accurate and professional looking Cost Approach to be completed.
To understand the various categories in the web site, the designers included additional information via a small link shown in the category. This is extremely helpful to better understand how this service rates and calculates the various costs, but it is a tad bit cumbersome if the user is not totally familiar with the web site program.
I decided to take their ‘definitions’ and ‘instructions’ and produced the booklet, embedded below, with all of them in the same sequence as on the web site, verbatim – meaning no changes were made to their material.
Note that their “Quality Estimate” definitions use the word ‘Class’ and a number; these are designed to replicate the UAD rating numbers.
When folded the booklet is 5.5″ x 8.5”. You can print each page separately. And if you print the first page spread (pages 1 & 4), you can run the printed sheet back through your printer and print the second 2 page spread (pages 2 & 3). After doing that, fold to make a booklet.
If you like using Building-Cost.net for doing Cost Approaches, you might want to review this booklet, and keep it in your library as a reference tool.
Also, keep in mind that Craftsman Book Company also has hard copy Cost Guides you can purchase.