Estimating Replacement & Reproduction Costs in Real Estate

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question 1 of 3

In real estate, the replacement cost method uses _____, whereas the reproduction cost is _____ .

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1. If you purchased a home in a historic preservation district, and you needed to repair a part of the house, what method would the appraiser most likely use to determine the cost to repair or replace it?

2. There are four methods used to calculate replacement or reproduction costs. They are:

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About This Quiz & Worksheet

With a question on market value calculations and others on different estimation methods, use this tool now to check your learning.

Quiz & Worksheet Goals

Measure your knowledge on:

  • Estimating cost for damaged property in a new construction
  • The four methods to calculate reproduction or replacement costs
  • Determining market value
  • The method appraisers would most likely use to determine costs on a home in a historic preservation district
  • Comparing the reproduction cost and the replacement cost method

Skills Practiced

  • Knowledge application - use your knowledge to answer questions about factors determining market value
  • Distinguishing differences - compare and contrast topics from the lesson, such as replacement cost method and reproduction method
  • Interpreting information - verify that you can read information regarding appraisal methods on homes in historic preservation districts and interpret it correctly

Additional Learning

Learn more about these types of costs in real estate with Estimating Replacement & Reproduction Costs in Real Estate, the companion lesson to this quiz. These topics are included in the lesson:

  • The definition of depreciation
  • Why you would use the reproduction costs method
  • The definition of market value
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