I am about to appraise a new townhouse for an FHA loan. Do I need to do a cost approach for a townhouse? The cost approach has always seemed irrelevant to me when dealing with attached housing(can't see the buyer saying he is going to go build himself a townhouse?). Also, do I need to fill out all the VC sheets with new construction? I have done a number of FHA appraisals but I think this is the first "new" construction. Thanks in advance for your help.