Help with Marshall & Swift Roof

[CastleGal]

I need help from a Marshall & Swift pro out there. I am doing an appraisal on a home that has a synthetic thatch roof. The roof thatch manufacturer is www.Endureed.com. This thatch is fireproof, pest proof, hurricane proof, snow proof. It costs about $14.89 per sq. ft. and the underlayment is 99 cents a sq. ft. On M&S's computer program, there is no choice for synthetic thatch. What roofing could I use as a similar cost on the cost approach? I am figuring that appraisers in Florida have seen this type of roof before.

In case you are wondering, here's the artist drawing of the house. I have the architect's permission to post the picture. He knows I am having a problem doing the cost approach. It looks really cool, but it will be a nightmare to appraise since there are no homes around here to use as comps.

 

[Terrel L. Shields]

Price out a standard shingle roof the same way you did the thatch, then adjust for the difference. Lots of places will quote a per square price for new shingle installation.

So if your thatch roof is 300 Squares at $400/Sq. and the standard shingle is $150, then the additional cost is 300 x 250 = $7500.

 

[Judy Whitehead (Florida)]

Wow - I'm speechless. I've never seen one quite like that and I am in Florida. On a personal note - if you gave it to me, I wouldn't want it. On a professional note - how in the world can you find any sort of market based adjustment if there is no other home with that type roof? What Terrel said is, of course, the logical approach to the cost approach. It is the other things that you will have a problem with. I think I would at least ask the manufacturer if there is any other house within driving distance that has the same roof.

Somewhere, someone sold this to the buyer. Did they pick it out of a book?

 

[CastleGal]

Yes they picked it out of a book. I'm doing the appraisal as a new construction. The quality of the building materials is high. The house is only 2,364 sq. ft. The idea of figuring the cost of normal asphalt shingles is good, but I was wondering if it is near the cost of slate maybe? I guess I need to call a roofing store.

 

[ValuMan]

Delightful. No really - looks great. Hope it isn't in a really windy area. Wouldn't last long in sections of our desert area.
The first comment from Terrel sounds a good approach to take. Don't let it turn into a problem harder than it really is. Add you "Used My Best Efforts" in this regard.