Amount to take out for building insurance
- Thread starter giraffez
- Start date
Ignore the sale price.
There are a few calculators around to work out the very rough rebuild price.
You don't want to find yourself coming up short if you hit worst case scenario
There are a few calculators around to work out the very rough rebuild price.
You don't want to find yourself coming up short if you hit worst case scenario
+1 as well as demolition & site clearing etc also include Architects fees & building approval costs etc
A lot of the Insurance websites have calculators for approx re-building costs
Even have a look at some of the bigger Builders sites (Metricon, Rawson, Porter Davis, AV Jennings etc) that will indicate prices for their 'standard builds'
Not suggesting at all that you would want to re-build with the larger builders
yes looking at renewing insurance and i have tried the website calculators but they keep coming up with ridiculous amounts to rebuild. My ppro is a 5 x 2 roughly 220m2 on a flat block and its last valuation was $455k + but the insurance calculator is coming up with $550k to rebuild dont figure.
Any ideas
Any ideas
Cost to demolish plus
Costs to build including fees etc plus
Costs for rental accomodation/loss of rent for the period required to do the above plus
Buffer
Remember to add in the costs to demolish and dispose of the old house, plus the other expenses.
Yes but those things don't add up to $300,000. That's ridiculous
Well it would cost around $10k to knock down a house plus a bit more to clear the rubble. But not $500,000 to do all that
After being through the Brisbane flood this year and having three properties gutted i think 300k is very on the dollar you cant live in the back of a ute with three kids,a good question to ask your insurance company is what is the extra cost to rebuild in hardwood and not treated chem pine ..
its all designed to scare you into over insuring.
300k for 3 properties yes. not for 1.....
what did you build? A 500sqm house? rofl
