Cost to construct the existing structure and site improvements including direct + indirect + entrepreneurial profit by one of three techniques: 1. Application of approach requires consideration of two cost bases reproduction cost (exact replica) or replacement cost (substitute of similar size and utility). Compares the cost to develop a new or substitute property with the same utility as the subject. All rights reservedģ CHAPTER 17- THE COST APPROACH INTRODUCTION Theoretical breakdown of land and buildings based on market comparisons. ![]() ![]() 1 THE APPRAISAL OF REAL ESTATE 3 RD CANADIAN EDITION BUSI 330 REVIEW NOTES by CHUCK DUNN CHAPTER 17 Copyright 2010 by the Real Estate Division and Chuck Dunn.
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