Quote:
Originally Posted by Hape2Bhr
I understand RG's point, but KK's sounds closer to the answer I might be looking for. The actual reconstruction of the building only, seems as if it would be less than market value. Are there standard formulas for different grade reconstruction costs? Do insurers simply say buy this much and you will be more than covered in any loss?
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I have built houses in the past. At this stage of life, I have no interest in doing it again. Too many headaches. I disagree that you can reconstruct a destroyed house for less than market value. The Villages builds houses for a lot less than an individual can do it. And you will be building a new house among older houses which will affect the market value. Don't forget demolition and design costs. And remember that you are not referring to the building only, because, if you buy another house, you still own the old lot, which you can sell.