Definition: Cost is the money required or spent to acquire, create, or produce something, such as a building or an improvement.
Example
A kitchen renovation costs $30,000, but market evidence indicates it adds only $18,000 to the property's value.
Keep the distinction clear
Cost and value are different. Spending a dollar on an improvement does not guarantee a dollar increase in sale price.
Related terms
Price · Value · Replacement Cost
Keep studying
Comparable Sales: Adjustments and Weighted Values
References: California DRE: appraisal and valuation concepts
Pronunciation (US): KAWST (capitals show stress)
Pronunciation reference: Merriam-Webster
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