The cost approach is normally given more weight in the appraisal of old and substantially obsolete buildings.

Question

Quizplus · Accepted Answer

The cost approach is typically given more weight in the appraisal of new buildings or special-use properties, as it is based on the cost to replace or reproduce the property. For old and substantially obsolete buildings, the income approach or the sales comparison approach is often more relevant.

The Cost Approach Is Normally Given More Weight in the Appraisal