Buildings insurance query.
Discussion
Have a look at the ABI (Association of British Insurer's)site which features some guidance and a regional calculator. £1000 per square metre sounds right but don't forget about garages/walls/out buildings depending on how big your property is.
If you have a Grade 1 or 2 listed house or something with original features you may want to add 25% on to the above.
www.abi.bcis.co.uk
If you have a Grade 1 or 2 listed house or something with original features you may want to add 25% on to the above.
www.abi.bcis.co.uk
Busamav said:
sleep envy said:
between £650-£850/m2 dependant on site specifics
I think that will leave the OP well short of a rebuild cost the market is hardening and people are putting keen bids in
ETA - you won't be including stats or excessive groundworks (incl risks) as it's a rebuild cost
Edited by sleep envy on Friday 8th August 14:36
7 Sevens said:
£1000 per square metre sounds right but don't forget about garages/walls/out buildings depending on how big your property is.
If you have a Grade 1 or 2 listed house or something with original features you may want to add 25% on to the above.
I've built fully operational/serviced head offices for that kind of money, your price is way over-eggedIf you have a Grade 1 or 2 listed house or something with original features you may want to add 25% on to the above.
remember, it's not a new build site and you will be replacing like for like so there is no need to price in risk whatsoever
You must consider the following: A.Demolition cost of existing property.( Could be somewhere in the region of £10,000 if transport and landfill costs are high)
B.Rebuilding cost.( at least £1200 per m2 for each floor.)
C. Professional Fees ( allow 15% of the cost of A & B above.)
D. VAT @17.5% on Professional fees only.
Stick with the above and you should be reasonably near the mark.
B.Rebuilding cost.( at least £1200 per m2 for each floor.)
C. Professional Fees ( allow 15% of the cost of A & B above.)
D. VAT @17.5% on Professional fees only.
Stick with the above and you should be reasonably near the mark.
Baby Huey said:
Can anyone tell me how to work out the rebuild cost of your house when applying for buildings insurance. I live in a 2 bed end of terrace in London, if that makes any difference.
If you give me the age, type and region I can give you a bloody close guess 
..some of my colleagues are chartered surveyors
Baby Huey said:
OK, some more details.
2 bed end of terrace, 74msq. Brick built, Tile roof.
SE12 area of London, built in the early 60's.
Thanks for al the advice folks.
are you sure on the measurements?2 bed end of terrace, 74msq. Brick built, Tile roof.
SE12 area of London, built in the early 60's.
Thanks for al the advice folks.
RICS suggest 84 m2 average
based on an average build quality, the RICS red book 2008 prices reckon on £1,240 per squm for a rebuild cost in your region.
this dictates a rebuild cost of £91,670
HTH
Edited by minimax on Friday 8th August 15:46
just measure the foot print, you have to form voids (above stairs etc) and they still cost money
TBH the RICS book is 12 months out of date, the resi market has move significantly in the last 6 months
have 3 return tenders for a 13,000m2 office block in london including remediation (old paint factory) - the spread is £1,204 to £1,296
TBH the RICS book is 12 months out of date, the resi market has move significantly in the last 6 months
have 3 return tenders for a 13,000m2 office block in london including remediation (old paint factory) - the spread is £1,204 to £1,296
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