New Estimate Wizard Age & Depreciation Screen
Enter the effective age of the residence, which is its age in years as
compared with other buildings performing like functions. It is the actual age less
any years that have been taken off by face-lifting, structural reconstruction,
removal of functional inadequacies, etc. In addition, select one of the
following options to set a depreciation percentage for the overall residence:
- Automatically Calculate Physical+Functional Depreciation: Automatically calculate the combined physical and functional depreciation
using the typical life and depreciation table in Section E of the Residential Cost Handbook. The calculated depreciation is based on the type, style, quality and
effective age.
- Set Physical+Functional Depreciation to: Set the depreciation percentage for the overall residence to a percentage
you enter here.
- None: Do not set a depreciation percentage for the overall residence.
The percentage you set here is automatically applied to each depreciable
component you select on the remaining wizard screens. You can change the
depreciation for individual components using the Component Estimate Data Screen.
Click Next > to continue.