Scottish Elises

I need to work out how much it would cost to rebuild my house - I could no doubt ask a surveyor to come and figure it out - but I need to do it in a hurry and I don't have a lot of time right now during normal working hours.

Any top tips? I don't need an accurate figure - just a ball park!

Ta,
Robin

When you apply for buildings insurance, does it not automatically do a calculation based on a formula around construction, rooms, location etc, sure it says based on estimates by the RICS so would surely be in the right ball park.

From memory think mine was c£100k above the actual value for a detached 4 bed bungalow...

Cheers,
Chris

Spec makes a huge difference. I would suggest £1,300 per sqm as a very rough guide for decent spec. but expect this and all other views to be highly opinionated. This doesn't include demolition costs.

chris_c201 wrote:From memory think mine was c£100k above the actual value for a detached 4 bed bungalow...

Don't you mean below? You don't have to buy the land again so rebuild cost should be lower than value.

Robin I would have thought yours would be above valuation due to it being expensive if not impossible to rebuild. Older houses usually have higher rebuild costs than value. They don't make them like that anymore.

They have mine as £1.5M Robin, suggest yours is in line with the National Debt, but do not worry, come the revolution the great unwashed(UKIP) will pull it down and rehouse you in a tent, as I seem to remember that you have German ancestors.

tut

As a generalisation, the cost will reflect the kind of building, eg. a listed structure will cost a lot more to rebuild than a timber framed modern build (even though the listed structure will already have a higher market value due to materials, etc).

Our property is listed, and the rebuild valuation is considerably more than market value.

jasonliddell wrote:As a generalisation, the cost will reflect the kind of building, eg. a listed structure will cost a lot more to rebuild than a timber framed modern build (even though the listed structure will already have a higher market value due to materials, etc).

Our property is listed, and the rebuild valuation is considerably more than market value.

Ahh, didn't appreciate it was an old/listed? property. My rebuild cost is about £200k below value.

Robin's is in line with ours as regards construction, but is in the middle of Edinburgh, slightly different than Old Deer.

Market value is £500,000 which is what it is on sale for now, but suspect that Robin's is probably three times that, even though it has never done a Tut Towers.

tut

Can't actually remember who my building insurance is with but it is listed at "unlimited cost" in terms of rebuilding cost and has no relation to market value. Pretty sure that is far more common than it used to be.

To rebuild yours along with your cars Jim, would bankrupt the Insurance company.

tut

robin wrote:I need to work out how much it would cost to rebuild my house - I could no doubt ask a surveyor to come and figure it out - but I need to do it in a hurry and I don't have a lot of time right now during normal working hours.

Any top tips? I don't need an accurate figure - just a ball park!

Ta,
Robin

Robin I can sort this out for you, just need the floor area of your house if you know it

Cheers

Benny

Ours is about 2x the market value - the insurance company just did it using a magic formula. (Old houses cost more to rebuild it turns out).

If it is for Insurances purposes Robin then it is usually unlimited with a good Company.

tut

Was just about to say, Benny is dee man here