Usually, a generic pricing table is used to calculate the reinstatement value. This generalises all buildings into set categories and gives a reinstatement value at a price-per-square-metre. However, your property could have completely unique needs and may not fit into a generalised category.
To create an accurate figure for your property’s reinstatement value numerous factors will need to be considered and assessed. Some of the factors to be considered can include:
Older properties that contain asbestos: this will add considerable cost to any work required.
Property locations: the nature of demolition work will depend on this.
Regional differences: costs and availability differs in different regions of the country.
Property design: while modern buildings are constructed cheaply and quickly, rebuilding them can cause problems.
Listed buildings: which require specific techniques as well as materials during a rebuild.