How much would it cost to rebuild your home?

Published on  17 May 2024
  •  A home’s rebuild price is the estimated cost of any labour and materials needed to rebuild it from scratch.
  • An accurate estimate is required for your insurance to make sure the provider can cover all the costs if it needs to be completely rebuilt.
  • The BCIS Public Rebuild Calculator allows you to work this out quickly if you have a standard home without any architectural features.
Whenever you apply for  building or home insurance, the estimated rebuild cost is something you may have to specify. It depends on the size, age and style of your home. Usually, the figure is less than your home’s market value or sale price.

If you have a home built using standard construction methods, you can usually use a BCIS rebuild cost calculator to get an accurate figure. Flats, maisonettes, and homes with more striking architectural features, usually require a visit from a chartered surveyor to assess the property and work out the costs.

To work out how much your home would cost to rebuild, you’ll need to account for a few different factors: 

• cost of the materials

• labour costs

• your home’s surface area

• property type

• age of the property.

If your home’s made from non-standard materials, it could be more expensive to rebuild than a standard property. Other materials, like thatched roofs, can also result in a higher cost.

To accurately estimate the rebuild cost of your house, you’ll need to work out its square footage before using the rebuild calculator.

Measure the length and width of the ground floor walls and multiply them together. 

Then, if the upstairs is the same size, simply double the figures. If not, measure the upstairs separately and add the two figures together.

If you’ve had an extension on your home or a loft conversion, it’s important to update the amount with your home insurer to make sure you’re fully covered.

The estimated rebuild cost of your home is often cheaper than its market value because the figure is based on the cost of materials and labour alone.

When your property is valued for the market many other factors are considered, including the geographical area. This is why it can work out cheaper to rebuild your home than to move house or renovate in some cases.

It’s important to get an accurate estimate of the costs as this is what determines your home insurance price and prevents you from over or underinsuring your home. 

Take a look at our home insurance policies  to find out more and see what else is covered as well as the cost of rebuilding your home.

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