"Newer" properties are the best fit for a cost approach appraisal because it can be difficult to accurately estimate the amount of "depreciation" that has taken place over time on older properties.
These are questions that the above text answers:
1. What type of properties are best suited for a cost approach appraisal?
2. Why is it difficult to estimate depreciation on older properties?
3. What is the purpose of a cost approach appraisal?
5. What are the benefits of a cost approach appraisal for newer properties?
7. What challenges are associated with appraising older properties?
8. How does a cost approach appraisal differ from other appraisal methods?
9. What factors make it difficult to estimate depreciation on older properties?
10. What is the significance of a cost approach appraisal in real estate law?