Canadian real estate appraisers and other professionals require resources that are both reliable and mutually agreeable across sectors. Without baseline agreement, cost disputes for residences arise that can lead to protracted litigation. No one within the residential or agricultural industries wants to go down that road unless it’s absolutely necessary. That’s why the accurate rebuild cost estimates generated by the Douglas Residential Cost Guide and the Douglas Agricultural Cost Guide are essential to real estate appraisers for accurate improvements valuation.
Using the Replacement Cost Method for Residential Valuation
Having an accessible residential replacement cost calculator that key stakeholders can agree is both impartial and accurate is essential to doing business. Not only do real estate appraisers find that the Douglas valuation tool makes their replacement cost estimating and depreciation analysis tasks easier, but they also deliver tangible data that can be shared between homeowners, insurance professionals, the construction industry, and real estate professionals.
What’s unique to the Douglas Residential Cost Guide is that it goes far beyond simple square-footage costing methodologies. It accounts for the fact that not all homes are even remotely similar. These are examples of items the Douglas valuation tool takes into consideration when calculating replacement cost:
- Architectural Design
- High Value Dwellings
- Historic Residences
- Type of Materials
- Total Square Footage
- Luxury Amenities
- Outbuildings
- Current Canadian Costing Data and Information
Utilizing a resource that can account for the structural elements that make a home unique helps deliver the best possible replacement cost accuracy for real estate appraisers.
Industry-Leading Agricultural Improvement Valuation
The Douglas Agricultural Cost Guide predates its residential counterpart. Professionals in the agricultural sector recognize this guide as the industry standard. Canadian real estate appraisers in the agricultural area and farm owners generally agree with improvement valuations, and replacement cost estimates arrived at through the Douglas system. That’s because the long-standing agricultural replacement cost guide accounts for the variables in structures such as the following:
- Interior Finishes
- Various Wall Types
- Economies of Scale
- Difference in Sidewall Heights
- Equipment
The materials and architectural designs found in agricultural structures differ immensely from residential and commercial properties. Accurate structure appraisals require a specialized valuation tool developed by an experienced industry insider.
Canadian Real Estate Appraisers Rely on Douglas Guides for Accuracy
Karl Douglas has invested more than 30 years into developing the agricultural and residential valuation and replacement cost guides. They are widely recognized as accurate, reliable resources that can be accessed from electronic devices, desktop computers, and offer a hard copy for appraisers working in remote areas. Accuracy and professionalism require a baseline resource all parties can agree upon. The Douglas guides deliver results key stakeholders can trust.
For more information about the Douglas Cost Guide’s suite of services for real estate appraisers, get in touch today or subscribe to the Residential and Agricultural Cost Guide.
