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Calculating Your Rebuild Cost

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Calculating Your Rebuild Cost

Calculating Your Rebuild Cost

As you already own the land that the property stands on, which has a value in itself, the rebuild cost is usually less than the sale price/market value.

This is not a hard-and-fast rule, and there may be occasions where the rebuild cost exceeds market value, such as if the property is a Listed Building, or is of a non-standard construction that may have unique features, or use building materials that are difficult to source.

Ways to calculate the rebuild cost

For a standard construction house that is not Listed, you can either:

  • Use the FREE ABI Rebuild Calculator provided by BCIS
  • Hire a chartered surveyor to carry out an assessment
  • (If you have recently purchased a property, and required a mortgage) then your mortgage valuation or pre-purchase survey will include a rebuild cost in it

If your property is constructed of non-standard materials or is a Listed Building:

  • Contact a chartered surveyor for advice

Useful Information

If you need to appoint a chartered surveyor, you can find one on the Royal Institution of Chartered Surveyors website.

To find out if a property is Listed, check with the relevant body for your country:

Helpful Hints

  • It is worth conducting a review of your rebuild cost on an annual basis, in conjunction with your home insurance renewal
  • Recalculate your rebuild cost if you carry out renovations, build an extension, or convert a loft or garage into living space
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