I'm looking at the mother inlaws insurance policy and trying to estimate building replacement cost. It is a bulk standard brick veneer and tile place on a dead flat block, nothing hard. Its modest @ around 15 squares (~140 sqm) with 4 square garage (~36 sqm) ---> the insurance calculators are giving me a ~17.5K/square (~ 1.9K/sqm) sorts of estimates (inc garage!) for replacement ---> I am struggling with that price, land included the current house would be lucky to sell for that!
I look at the project builders prices and even adding 20% I can't see her spending 10K/square replacing this house! Currently she is covered for 12.7K/square which should cover all the extra improvements around the place easily... well IMO anyway.
I was just a little taken back by the estimates! Would anyone with and recent real world building experience care to comment? What do you think it should be? It is not something I have considered for a while.