Cubic Foot Factor Method
Along with the square foot factor method, this is the most widely used method for estimating comparable building costs. The cubic foot factor method requires the computation of the cubic contents of a building by multiplying the building area from the outside of the exterior walls times the height of the building. This is used by appraisers to estimate the reproduction costs of a building, For example, if the average cubic foot cost of a certain building type is $20, and the total cubic contents of the building are 5000 cubic feet, then the estimated reproduction cost of the building is $20*5000= $100,000.
Popular Real Estate Terms
Tax imposed by some state and local governments to record into the public record property deeds and mortgages. ...
An increase in the price or market value of real estate. ...
There’s a lot of confusion regarding the hazard insurance definition. Many people think it’s a synonym for homeowners insurance but they’re wrong. Hazard insurance is ...
Existing state of affairs with respect to the real estate market and conditions. ...
Primary residence of an individual. The principal residence can be a single family home, condominium, cooperative, or trailer. A principal residence may qualify for a homestead exemption in ...
English-style home. It is usually 2-stories high. The roof is of a hip type. The chimney is on the side of the home. ...
The practice of acquiring land for a future use. For example, a franchising company is projecting rapid nationwide expansion over the next five years. In order to prepare for the expansion, ...
Geographic area that is attractive to prospective tenants. Square footage in an office building or apartment house that may be rented by a tenant. ...
Land located on a precipice. ...
Have a question or comment?
We're here to help.