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House Rebuilding Costs

 The reinstatement cost of a house is the cost it would take to rebuild the property in the event of a calamitous accident. In such instances, the reinstatement cost would include demolition, site clearance, professional fees, VAT and the actual rebuilding costs themselves.



The figures can be used as a guide towards insuring your home or for the reinstatement cost used on valuation forms, however the figures do not allow for internal furnishings such as furniture or carpets or outbuildings such as sheds. Therefore, you should take these into account also.

The figures themselves are given as a minimum guide for insurance purposes and are quoted in both square metres and square feet, the unit cost varying depending on the type and location of the property. 

To calculate your reinstatement cost is relatively straightforward. 

 Firstly, calculate the size of your property either in square feet or square metres. 

Then consult the SCS table and reference the rebuilding cost most applicable to your property e.g. a semi-detached three bedroom property in Cork.

Multiply the size of the property by the cost per square foot / metre given in the SCS table.  

 Finally, add on any extras which may affect the rebuilding costs  - fittings such as wardrobes, expensive kitchens etc. 

 The total cost will be your reinstatement cost. 

The guide to House Rebuilding Costs is published by the Society of Chartered Surveyors. Their web address is www.scsi.ie and the guide is available under the publications category with the 2014 release available to view here.  

 

 

 

 

 

 

   

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