The physical characteristics entered by the user will be used to calculate an estimate of the construction cost or replacement cost of the subject building have been saved. Registered users may exit and return at a later time to perform the cost calculation. An unregistered guest user cannot leave and return because all entered data will be lost.
Performing the calculation step will generate the shell structure cost estimate for each building section as if constructed new and the cost of each finished use type within each level of each building section. The intent of this calculation is to give the user an accurate starting point in determining the building’s estimated value.
If the subject building is not new construction, then certain adjustments, primarily depreciation, will be needed to estimate its current value. Following the calculation of the building’s replacement cost new (RCN), the user will be able to enter estimated depreciation due to physical deterioration, functional obsolescence, and economic obsolescence, for each building section structure and each building use.