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A guide to Landlords Property Rebuilding Costs

 

The following tables give general information on rebuilding costs. You will see that one table shows a per-square foot rebuilding cost for a variety of types of Landlord Property. The other table gives the costs on a metric basis. The rebuilding cost of similar houses can vary depending on individual circumstance.

Find out the external floor area of your home - both upstairs and downstairs. The best way is to go outside and measure the length and width of your home and multiply these figures together. If you cannot measure outside, measure inside and add the thickness of the walls. You can measure either in feet or metres.

Whilst an integral garage would be included in this calculation, if the garage is separate or built on the side of the house, an appropriate amount will need to be added to the rebuilding cost of the house. To take account of fences, gates, walls, patios, paths, drives and swimming pools, an appropriate amount should also be added to this figure.

You now know the ground floor area. For upstairs, you may be able simply to double the ground floor area. If the other floor area is a different size then calculate the upstairs area separately and add the figures together. For three storey houses, only 70% of the floor area of the third storey need be included. A third storey of a house does not mean the attic in a two-storey house, unless the roof space has been converted into a third storey.

The tables give rebuilding cost information for five different house types, related to ages, sizes and locations of houses - they are unsuitable for :

* Houses built of stone or materials other than brick
* Houses with more than three storeys, or basements and cellars
* Flats and maisonettes
* Houses with special design features or of greater size than those described in the tables.
* Houses containing hazardous materials, e.g. asbestos
* Houses that are considered to be historic or are listed buildings

To calculate the rebuilding cost for any of the above categories, seek professional advice: do not rely on these tables.

The rebuilding costs in the tables provide for an average home to be rebuilt to its existing standard using modern materials and techniques and in accordance with current Building Regulations and other statutory requirements.

Where it is necessary for your home to be rebuilt exactly in its original style to comply with the local authority requirements, you must allow for the additional costs and a professional Rebuilding Cost Assessment is essential.

The rebuilding costs also include an allowance for full central heating costs (approximately £3,500), 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.

Figures in the tables are based on houses of an average quality and finish and might need adjusting. If your house is of higher quality with, for example double glazing, a luxury kitchen and sanitary fittings, floor and wall finishes, your final figure may need to be increased by up to 25%.

Where a fire and/or intruder alarm system is fitted, replacement costs should be taken into account when calculating your sum insured.

For garages (other than integral) rebuilding costs range between £3,450 for a single pre- fabricated garage to £6,200 for a double pre-fabricated garage. Cost for a purpose build garage range between £8,450 for a single to £11,400 for a double built garage.

Don't forget to include the cost of rebuilding outbuildings, walls and fences

For a more information plese visit: http://calculator.bcis.co.uk/

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