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buildings insurance - rebuilding costs
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how on earth, when i am not in the building trade, do i calculate what the rebuilding cost of my home is, in the event of total loss?
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No best answer has yet been selected by mandimoo. Once a best answer has been selected, it will be shown here.
For more on marking an answer as the "Best Answer", please visit our FAQ.You'll have to ask an architect or builder for the figure. It's handy if you know one, then they probably won't charge you. If not, you'll probably have to pay, but it shouldn't be much. Basically, they just look at the house and come up with a figure. It doesn't have to be accurate to the �, just a figure that would cover the rebuilding, so it's usually rounded up quite a bit.
Or, if there are similar houses nearby, you could ask them what figure they have.
Or if building plots have been sold nearby recently, deduct that cost from the value of your house.
Or, if there are similar houses nearby, you could ask them what figure they have.
Or if building plots have been sold nearby recently, deduct that cost from the value of your house.
A very average building cost is �1000 per square metre (psm) of finished dwelling. So unless you've got an incredibly high-spec'd house, use that. By 'psm' I mean the length and breadth of the external walls, then double it if the house is two-storeys. No point going to an architect - they'll only charge you for the same info. I'll send my invoice in later.
Try this calculator http://abi.bcis.co.uk/