Which method uses the total gross living area to estimate property value?

The square foot method is the most appropriate choice for estimating property value based on the total gross living area. This approach involves calculating the value per square foot of living space and then multiplying it by the total gross living area of the property in question. By using this method, appraisers can provide a straightforward and easily understandable valuation that reflects market trends and comparable sales in the area.

In contrast, the cost approach method focuses on determining the value based on the cost to replace or reproduce the property, less depreciation. This approach does not emphasize total gross living area directly for valuation purposes.

The income approach method estimates property value based on the income it generates, typically used for investment or rental properties. This method evaluates the potential revenue rather than relying solely on physical metrics like square footage.

The market comparison method, while also based on sales data, analyzes comparable properties' sale prices rather than specifically quantifying value through square footage. This method uses market data from similar properties to estimate value, which is a different process than the square foot method's direct calculation.

Thus, the square foot method is the most straightforward technique for estimating property value as it specifically correlates total gross living area to cash value, making it particularly relevant as a valuation tool in residential real estate.