Which approach is used to estimate building cost based on square footage?

• A. Cost Multiplier Method
• B. Unit Cost Method
• C. Square Foot Method
• D. Replacement Cost Method

Answer: (C)

Estimating building cost by square footage relies on applying a cost-per-square-foot figure to the total floor area. This directly ties size to cost, making it a quick and easy way to produce a rough budget or compare properties. The per-square-foot figure reflects local costs, building type, and quality, so picking the right figure is crucial for accuracy. This method is most useful for preliminary estimates, but it won’t capture differences in finishes, layouts, or systems that a more detailed method would account for. Other approaches price by different units (like per room or per unit) or use multipliers or replacement cost, which shift the focus away from a simple size-based calculation.