How much does it cost to rebuild house?
|House Size||Demolition Cost||Rebuild Cost|
|1,000 sq. ft.||$4,000 - $15,000||$40,000 - $175,000|
|2,000 sq. ft.||$8,000 - $30,000||$70,000 - $350,000|
|3,000 sq. ft.||$12,000 - $45,000||$120,000 - $525,000|
Then, what is the rebuild cost of my house?
The rebuild cost is the amount it would cost to completely rebuild your home if it was destroyed beyond repair. It includes the price of labour and materials. In this case, insure your home against the higher rebuild cost not the lower sale price or market value to avoid any insurance shortfalls.
Subsequently, question is, is it worth it to tear down a house and rebuild? If you want cheaper, remodel. Even a wide-ranging whole-house remodel will still be cheaper than tearing down and building anew. According to Roger Greenwald, RA, AIA, "the cost of tearing down and rebuilding will be about 20 percent higher than engaging in an extensive whole-house remodel.
Just so, how much would it cost to rebuild my house for insurance purposes?
Fortunately, a standard policy covers fire. With current labor and construction costs, it costs $250,000 to rebuild your home. Unfortunately, your home insurance policy only has a replacement cost amount of $200,000. That means you're $50,000 short to rebuild your home.
How much does it cost to rebuild a house after a fire?
The cost of rebuilding, cleaning up, and deodorizing a single-family home (1,500 sq. ft.) after a fire ranges from $2,000 to $5,000 by a restoration company. This cost covers a fairly straightforward restoration within a limited area.