Which method do appraisers use to calculate reproduction costs by multiplying cost per square foot by the building's square footage?

The square-foot method is a commonly used approach in appraisal to determine reproduction costs by multiplying the cost per square foot by the total square footage of the building. This method is straightforward and provides a quick calculation for appraisers. It is particularly useful for residential properties where standard costs per square foot can be readily obtained from recent construction data or local building reports.

This method simplifies the appraisal process by allowing appraisers to use historical cost data to estimate current reproduction costs efficiently. It is effective because it provides a clear and direct calculation that correlates closely with actual market conditions, making it a preferred choice for many appraisers.

In contrast, other methods such as quantity survey, index, and unit-in-place involve more complex calculations or different approaches, focusing on components, detailed cost estimations, or adjustments over time, which may not be as immediate or easy to apply to straightforward appraisal scenarios. Therefore, the square-foot method is a reliable and widely accepted approach for appraisers in calculating reproduction costs.