Owning your own home

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dwl

For insurance purposes, where I need to provide a 'full rebuilding cost' can/should I use the figure from my property survey? Or is there going to be a more definitive figure somewhere else in the mountain of standard mortgage/purchase paperwork?

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Mr_Sworld in reply to @dwl

The rebuild cost is not what you paid for the house. Assuming you are freehold you already own the land so the cost of building a house is much lower than the sale price.

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dwl in reply to @Mr_Sworld

Yeah, got that. The rebuild cost we have is a little lower (about £25,000) than the figure the previous owners used in their insurance policy, just wanted to check I'm not missing anything obvious!

Presumably surveying isn't an exact science hence the difference in the figures?

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