The cost approach in an appraisal is a method of estimating the value of a property by summing the cost of constructing a similar building today, plus the land value. This approach assumes that the reproduction or replacement cost of a structure, minus accrued depreciation, equals the value of the property. The cost approach is useful for evaluating properties with an unusual design or construction and properties that are difficult to valuate using other methods. [[Marshall Swift]] is commonly used by appraisers to help develop the cost approach.