bil8999 Posted December 26, 2016 Report Share Posted December 26, 2016 Just as a matter of interest, how much is the rebuild cost in your area per 2m for insurance purposes. Link to comment Share on other sites More sharing options...
Mortitia Posted December 27, 2016 Report Share Posted December 27, 2016 A bit obvious but it depends if you are using brick and block, stone or other type of construction. Take a look at Direct Line's site they seem to cater for this. Link to comment Share on other sites More sharing options...
Grampa Posted December 27, 2016 Report Share Posted December 27, 2016 As a rough rule of thumb I am sure a couple of brokers told me once it is about 1/3 the of the sale value. Or was it 2/3? Link to comment Share on other sites More sharing options...
bil8999 Posted December 27, 2016 Author Report Share Posted December 27, 2016 This is the problem, it takes the same time to lay a 1000 bricks in a cheap area as it does to lay in an expensive area, so in theory the rebuild cost could cost more than the resale value. In my area I was advised to allow £1200 per m2. Link to comment Share on other sites More sharing options...
bil8999 Posted January 5, 2017 Author Report Share Posted January 5, 2017 Nobody got any thoughts? Link to comment Share on other sites More sharing options...
Richlist Posted January 5, 2017 Report Share Posted January 5, 2017 On 27/12/2016 at 6:18 PM, bil8999 said: It's not surprising that replies are a bit thin on the ground This is a Landlord forum and you need an insurance or surveyor web site. Surely there are some on line tools that can provide the answers you are looking for.......but I'm not the one who is going to do the looking. ? Good luck. Link to comment Share on other sites More sharing options...
bil8999 Posted January 7, 2017 Author Report Share Posted January 7, 2017 But landlords pay insurance, and should be aware of the rebuild costs, so thought it would be open for discussion on landlord forum, no offence. Also trying to open discussion regards rebuild cost and open market value. That's all Link to comment Share on other sites More sharing options...
Richlist Posted January 7, 2017 Report Share Posted January 7, 2017 No offence taken. I accept my posts can be a little blunt sometimes. My thoughts: Your question only really relates to freehold property because usually for leasehold the insurance is arranged by the freeholder or their managing agents. The value of that insurance will often include lots of common areas on a development that are not a specific part of a property With freehold property the minimum insurance value is often specified by the mortgage lender as a condition of the loan. Most people I know use that figure which insurers increase each year in line with inflation. So, for the vast majority of people, I don't think they ever think about rebuild costs.......but there will be someone out there who does. Link to comment Share on other sites More sharing options...
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