How do I work out my home rebuilding cost?
The rebuilding cost is the estimated amount it would cost to fully rebuild your home from the ground up if it were completely destroyed — including materials, labour, and professional fees such as architects or surveyors. It’s different from your property’s market value and focuses only on the cost of restoring the building itself to its original state.
Several elements contribute to determining the rebuild value of your home, including:
- Size of your home: Generally, the larger your property, the higher the rebuild cost. Make sure to provide accurate details about your home’s size, including the number of rooms, doors, and windows, as these can all impact costs.
- Age of your home: Older properties may require more costly materials and skilled craftsmanship to match their original design.
- Building materials: Homes constructed with non-standard materials—like timber framing, thatched roofs, or those in listed building categories—can be more expensive to rebuild. These types of homes may also require specialist insurance.
- Location: The cost of labour can vary, and in some areas, being remote or difficult to access may add to rebuild expenses.
- Flood risk: If your home is in an area prone to flooding, you may need to make additional investments in flood-proofing, which could raise rebuild costs.
- Subsidence (a problem caused by the ground under your property sinking): Properties that have suffered from or are at risk of subsidence may face higher costs due to the potential for severe structural damage.