Which method estimates building costs by calculating all physical components and their proper installation?

The unit-in-place method is a detailed approach used to estimate building costs by calculating the individual costs of all physical components involved in construction and then determining the costs associated with their proper installation. This method includes assessing the costs of materials, labor, and other factors for specific elements like foundation, walls, ceilings, and roofs, all installed on-site.

This approach provides a very accurate cost estimate, as it takes into account both the unit cost of materials and the installation costs for each component as it is being placed into the structure. It's particularly useful for complicated projects where all aspects of the construction can be clearly delineated and priced individually, allowing for a comprehensive and detailed budget.

In contrast, a comparative market analysis primarily focuses on evaluating property values by comparing similar properties in the market, rather than estimating construction costs. The cost approach typically refers to determining property value based on the cost to replace or reproduce the improvements, not necessarily breaking down each installation methodically as the unit-in-place method does. Lastly, the sales comparison method also relies on comparing recent sales in the market, which again does not provide the specific detailed cost calculations required in estimating building costs directly through physical components.