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How to calculate property value for buildings insurance?
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Andy Hall
Posts: n/a
On 29 Oct 2004 21:31:51 GMT,
(Andrew
Gabriel) wrote:
In article ,
Andy Hall writes:
The other way around, surely.
How can the rebuild cost exceed the cost of the existing building plus
the land?
What you pay for a house really has very little to do with
the cost of the land and the cost of building a house, and
much more to do with what the market will bear in that area
for x bedrooms, y reception rooms, and z bathrooms.
The land doesn't go away......
Rebuilding cost of an end-of-terrace 1895 house was nearly
double the market value. You couldn't just stick a modern
Barratt rabbit hutch up there if it burned down. You would
have to build a terraced property to join on and reasonably
well blend in to the rest (doesn't need to be a perfect
match), but to current building standards.
Agreed, but this is a brand new house......
..andy
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