Rebuilding Costs - How to calculate

Oscar_The_Grouch

Afternoon All,

There have been several posts asking for how to calculate your rebuilding costs, so I thought I would post this:

http://calculator.bcis.co.uk/

This is a link to the Building Cost Information Service and their rebuilding costs calculator. It gives you the basic starting point to work from.

What you need to consider after you have your basic figure is things like:

Detached outbuildings (garages, summer houses, large sheds, etc)
Patios, swimming pools, decorative driveways
Any period features
Expensive or large kitchen or bathroom
Conservatories
Solid wood floors
Anything else you have done to the home to improve it

If you have lots of the above, give up and get a professional round. Otherwise, estimate the cost of the items and add them in to the basic figure.

I would always recommend you add about a further 5-10% to this and then insure for that figure. The additional percentage picks up anything you might have forgotten about and gives you added security.

Remember to keep a copy of your calculation, as it is useful if you ever need to dispute a valuation provided by your insurers in the event of a claim.

*MF*

^ Excellent!

I am willing to be corrected on this (apologies if I missed it) - but having read thru' the notes I couldn't find any reference to professional fees needing to be added over and above the rebuilding costs, which on a larger claim (say involving planning permission, and the need for an architect or QS), may also have to be taken into account.

mattymoo

It's about 3/4 of the way down the page *MF*.

(e) The rebuilding costs also include an allowance for full central heating costs (approximately £3900), demolition and site clearance costs, Architects' and Surveyors' fees, and one half of the cost of rebuilding party walls in both terraced and semi-detached houses.

*MF*

Ooops!!! ... *promises to better next time mode*