Owning a farm is hard work, it takes dedication, long hours, attention to detail, patience and determination. Farming is the backbone of our country. At Douglas Cost Guides, we not only understand this, we deeply respect and value it. In this blog, we highlight why the Douglas Agricultural Cost Guide is considered the tool of choice for industry professionals when it comes to estimating the replacement cost of Canadian agricultural buildings.
Developed Specifically for Canadian Farms
Douglas Agricultural Cost Guide’s creator, a designated retired member of the Appraisal Institute of Canada, was a leading expert in appraisal and evaluation, with over 30 years of experience in land value analysis, site inspection, agricultural property appraisal and evaluation, and real estate fee appraisal. The Douglas Agricultural Cost Guide was specifically developed for the valuation of Canadian agricultural structures, utilizing extensive research in Canadian agricultural construction, agricultural occupancy estimates and other industry data to create a cost guide using Canadian data, for valuation and analysis purposes. Determining a price for agricultural buildings can be very challenging, yet a very necessary task for farmers and others connected to the valuation of farm properties and / or structures. Replacement costs for buildings is needed for many reasons: to ensure proper insurance coverage, budgeting, financial management, taxes, et al.
Unique to Farming & Agriculture Buildings
Many insurance companies have replacement cost tools that are used to help determine replacement cost; however, many of those systems were developed for residential buildings and slightly modified to try an accommodate agricultural buildings. Douglas Agricultural Cost Guide was developed specifically for the valuation of agricultural buildings.
With extensive research, the agricultural guide provides costing details for:
- Commodity/ Produce
- Feed Storage
- Livestock Facilities
- Manure Storage
- Machinery Storage
Accurate and Up-to-Date Costing Data
With on-going research and adjustments, the agricultural cost guide is updated and published annually to ensure all costing and data captured is current. Users can access the easy-to-use guide to determine the reconstruction cost of their agricultural buildings at any time, for any purpose.
Our cost guide has been recognized as the industry standard by Canadian insurance companies, adjusting firms, banks and other financial institutions, law practices, and accountants. Insurance industry and Canada Revenue Agency approved; the agricultural cost guide is a highly trusted tool developed specifically for you to determine the replacement cost of your agricultural buildings.
As Canadians, we rely on our farmers and value their expertise. In turn, farmers and agricultural industry partners can take comfort in knowing they can rely on us because of our expertise. Use Douglas Agricultural Cost Guide today to help you determine the replacement cost of your most valued assets.