What is the primary drawback of the Quantity Survey method?

The primary drawback of the Quantity Survey method being time-consuming is a significant aspect to consider in the context of appraisal and real estate. This method involves a detailed and systematic approach to estimating construction costs by breaking down the project into its individual components and assessing the costs associated with each one.

Due to the comprehensive and meticulous nature of this method, it requires a considerable amount of time to gather the necessary data, perform calculations, and compile the information into a coherent estimate. This can be particularly burdensome in projects where quick decisions are needed, making the Quantity Survey method less desirable compared to faster methods.

In many real estate scenarios, time is of the essence, and if appraisers or brokers need to deliver an estimate swiftly, they may choose alternative methods that provide quicker results, albeit possibly with less precision. This highlights the importance of efficiency in the appraisal process, especially in a fast-paced real estate market.