What is the term for the cost involved to build an exact duplicate of an existing structure?

The term "reproduction cost" specifically refers to the cost involved in constructing an exact duplicate of an existing structure. This concept encompasses the idea of creating a copy that matches the original in every detail, including the materials used, architectural style, and craftsmanship. Reproduction cost is particularly relevant in historic preservation where maintaining authenticity is key, as it considers the precise attributes of the original building.

The other terms pertain to different aspects of real estate valuation. Rehabilitation cost involves updating or improving a structure rather than replicating it, while replacement cost refers to the expense necessary to replace a building with a similar but not identical structure, potentially using modern materials or techniques. Renovation cost typically focuses on the expenses related to repairing or making aesthetic updates to a building rather than creating a duplicate, which differentiates it from reproduction cost. Understanding these distinctions is important for accurately assessing real estate values and project costs.