Rebuild Cost Assessments for Property Owners

No, our assessments are conducted as a comprehensive desktop service. By utilising advanced property data, floor plans, EPC ratings, mapping technology, and construction cost databases, our RICS-regulated surveyors can provide a highly accurate rebuild cost without the need for a physical site visit. This makes the process faster, more cost-effective, and highly convenient, while remaining fully compliant with RICS standards and accepted by all major insurers and mortgage lenders.

Rebuild cost (also called reinstatement cost) is the total cost of completely rebuilding your property from scratch if it were totally destroyed. This includes demolition, professional fees, materials, labour, and compliance with current building regulations.

Market value is what someone would pay to buy your property on the open market. It includes the value of the land, location, and market conditions.

These two figures can be very different. For example, a property in central London might have a high market value but relatively modest rebuild costs, while a unique listed building might have modest market value but very high rebuild costs due to specialist materials and craftsmanship required.

Desktop assessments are highly cost-effective compared to traditional physical surveys. The exact cost varies depending on:

• Size and complexity of the property
• Type of building (residential, commercial, listed)
• Number of units (for blocks of flats)

Typical costs range from £150-£400 for a standard residential property, and £400-£1,000+ for larger blocks or commercial properties. Given that an inaccurate sum insured could cost you tens of thousands in a claim, this is a small investment for peace of mind.

Because there is no need to schedule and conduct a physical site visit, desktop assessments are much faster. The process typically takes just 5 to 10 working days from instruction to receiving your report:

• Days 1-2: Instruction and data collection (floor plans, photos, EPC)
• Days 3-7: Desktop analysis and expert calculation by RICS-regulated surveyors
• Days 8-10: Report preparation and delivery

For urgent requirements, we can often arrange expedited desktop assessments. Contact us to discuss your timeline.

All our desktop assessments are carried out by RICS-regulated surveyors and valuation experts (Royal Institution of Chartered Surveyors). RICS is the professional body that sets the standards for property valuation in the UK.

Our experts utilise advanced Automated Valuation Models (AVMs), BCIS (Building Cost Information Service) indices, and comprehensive property databases to ensure your rebuild cost is calculated with absolute precision, without the need for a physical inspection.

If your property is underinsured, the "average" clause in your insurance policy will apply. This means any claim payment will be reduced proportionally.

Example:

• Actual rebuild cost: £500,000
• Sum insured: £250,000 (50% of correct value)
• Claim amount: £100,000
• Payout: £50,000 (50% of claim)
• Shortfall: £50,000 (you must pay this yourself)

This can be financially devastating, especially for blocks of flats where the shortfall might need to be recovered from leaseholders through service charges. A professional assessment eliminates this risk.

While free online rebuild cost calculators can provide a very rough estimate, they have significant limitations and are often not accepted by mortgage lenders or insurers for formal valuation purposes:

• They can't account for unique features or non-standard construction methods
• They don't consider site-specific challenges or local labour cost variations
• They may miss specialist requirements (listed buildings, heritage features)
• They don't provide a formal, RICS-regulated report

Our desktop assessment service provides the speed and convenience of an online tool, but with the accuracy, authority, and lender-approval of a RICS-regulated surveyor.

Yes, absolutely. Rebuild cost assessments are particularly important for blocks of flats because:

• The costs are shared between multiple leaseholders
• Underinsurance can lead to disputes between freeholders and leaseholders
• Blocks often have complex construction and shared services
• They may include specialist features (lifts, communal areas, car parks)
• Managing agents have a legal duty to ensure adequate insurance
• Mortgage lenders often require them for individual flats in the block

Our desktop service is highly efficient for blocks of flats, as we can assess the entire development using architectural plans and EPC data without needing to inspect every individual unit.

A comprehensive desktop rebuild cost assessment report typically includes:

• Executive summary with the assessed rebuild cost
• Property description including construction type, size, and age
• Breakdown of costs including structure, services, external works
• Professional fees calculation (architect, surveyor, legal)
• Demolition and site clearance costs
• Compliance costs for current building regulations
• Recommendations for insurance cover
• RICS compliance statement

The report is formatted to be easily understood by property owners, managing agents, and insurers.

We recommend updating your rebuild cost assessment:

• Every 3-5 years for standard properties
• Every 2-3 years for unique or complex buildings
• Annually for large commercial properties or during periods of high construction inflation
• Immediately after major renovations or extensions
• At each insurance renewal if construction costs are rising rapidly

Construction costs can increase significantly year-on-year, so regular updates ensure your cover remains adequate. Because our desktop service is fast and cost-effective, keeping your assessments up to date is easier than ever.