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    Cost of Property

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    Estimate the cost of purchasing a lot, building a house and furnishing it using the following unit cost estimates:

    Size of property 100*150 feet
    House size 6 rooms, 50*46 feet with 75% of livable space
    Price of property in area: $2.50/square foot
    Average cost of construction $125/usable square foot
    Furniture $3,000 per room.

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    Solution Preview

    Cost of purchasing the lot = 2.50 * (100 * 150) = $37500

    Usable ...

    Solution Summary

    The total cost of property is estimated using the data in the solution.