Estimate your home's value using the cost approach with replacement cost and depreciation.
Replacement cost: $100-$250/sqft typical
Structure only; land doesn't depreciate
Cost Approach: Replacement Cost = Sq Ft × Cost/Sq Ft Depreciated Value = Replacement × (1 − Depr Rate × Age) Home Value = Depreciated Structure + Land Value
Home Valuation Methods
Comparable Sales: Most common — based on recent nearby sales
Cost Approach: Used here — replacement cost minus depreciation
Income Approach: Based on rental income potential (investor properties)