Rebuildvaluation.ie - Reinstatement Cost Assessment Specialists’ Post

🏢When it comes to conducting a reinstatement cost assessment for your property, it's crucial to consider more than just the surface-level expenses. Essentially, this assessment determines the amount needed to rebuild your property to its original state following any damage. There are numerous costs and factors involved in this process, including: 1. Materials: Fluctuating prices/availability but importantly speciality or unconventional building materials need to be considered. 2. Labour: Shortages in construction labour can escalate expenses and affect timelines. 3. Professional Fees: Architects, engineers, and other professionals may be required for the reinstatement process, adding to the overall cost. 4. Demolition and Debris Removal: Essential yet often overlooked, these expenses add to the reinstatement process. 5. Site Conditions: Unique site conditions or challenges can impact the complexity and cost of the project. At rebuildvaluation.ie, our commitment is to leave no stone unturned in our onsite reinstatement cost assessments. With our thorough approach, we ensure the correct reinstatement value, accounting for even the most unexpected factors. Specialising in protecting your property against underinsurance, we safeguard your valuable assets effectively. 🔍💼 If you require a Reinstatement Cost Assessment, call us on: 086 357 1713 or 01 5242118 #ReinstatementCostAssessment #Charteredsurveyors #Demolition #Debris #Hiddencosts #Underinsurance #Irishproperties #Commercialproperties #Assests SCSI - Society of Chartered Surveyors Ireland Insurance Ireland The Insurance Institute Brokers Ireland

The construction sector was a key part in the last quarters bounce back to growth in the UK. Are these the first green shoots for 2024 suggesting a move towards a more positive outlook not only for the industry but also for PropTech and the wider supply chain? Pamela Thomson-Hall and WTW share their insights. #constructionindustry #proptechnews

We account for the costs to reduce emissions from buildings, but don’t disclose or provide for the costs of disasters and managed retreat that are more and more probable, true and fair? (We can allocate the carbon budget for the construction sector down to an individual building project, why not the opportunity cost). Insurance companies are…just one of many discussions at the UK Passive House Conference (modelling for PH Certification vs TM59 was another). Perhaps if we accounted for the avoided cost as well as the upfront cost to avoid disasters we’d have a more complete financial picture…

Did you know? 🤔 The RICS recommends reassessing a building's insured sum every three years? If significant changes have been made—such as refurbishments, upgrades, or expansions—it’s crucial to review sooner as these alterations can impact the cost of reinstatement. At Torridon - your construction cost partner, we’re working closely with clients to conduct thorough Reinstatement Cost Assessments. If you have any questions or would like to ensure your property is adequately covered, don’t hesitate to reach out! 🏢💼 #ReinstatementCostAssessment #RiskManagement #Torridon #RealEstate #Refurbishment

Reason 1,284,031 for inaccurately setting a Reinstatement Value; ‘I know exactly how much it would cost to rebuild- I built it myself!’ This weeks Grand Designs featured a couple undertaking a beautiful self-build in Lincolnshire. They did brilliantly to deliver a sizeable home, applying broader project management knowledge to an ambitious construction project. Though insurance wasn’t discussed, the cost of construction was. And it’s easy to understand why people in this situation simply apply what they spent on their self-build and use this as their declared value. This could leave them open to risk, having omitted the following considerations; 🟥 Site clearance and demolition. A Reinstament Valuation needs to include the cost of clearing and remediating the site prior to the reinstatement taking place. A cost that isn’t included where properties are constructed on clear sites. 🟥 Professional fees. In Project Managing the delivery of a self-build one’s self, the cost of an employed project manager wouldn’t be reflected in the build cost. Additionally, as with this example, the couple spent their own time gloved-up and providing labouring services. Again, not reflected in their total build cost but would be required in the event of a reinstament. 🟥 Impact of inflationary fluctuations to construction costs. Setting a Reinstatement Value at the self-build cost doesn’t reflect changes to the cost of materials and labour. These are just some of the reasons that a buildings original cost of construction may not be suitable for use as a Declared Value. Anyone else think this means Grand Designs can be logged as informal CPD? https://lnkd.in/eBbuFpFH

Could you face a $2.3 million construction defect bill that was a result of a declined claim? Would your company survive? A compliant certificate of insurance does not mean you're covered. Let me set the scene: Excavation contractor, with 19 year relationship with their current broker, had a GC ask for the policy along with the certificate. The GC's team found a "Residential Construction Activities Exclusion (Absolute except apartments)" buried in there. So what does that mean in plain English? It means this contractor, who does about 20% residential work for new townhome projects, has no liability coverage for those projects. And it gets worse - because general liability policies are occurrence-based, if another construction defect claim pops up in 2025 related to work done under this exclusion, they're still out of luck on coverage. The moral of the story? Don't let a certificate being stamped as compliant equal you having proper coverage. #constructiondefect #constructioninsurance #propertyandcasualty #riskmanagement #residential

⚠️ It is crucial that anyone involved in the construction industry understands the application of the new building control regime. That's why we've put together an explainer of everything you need to know. 📽️ Watch: https://hubs.ly/Q02my3NR0

📣 The HML Blog and News contains the latest updates and valuable insights in property management and leasehold services as well as tips and advice on the day-to-day running of your property. With topics such as Registration of High-Risk Buildings, Building Safety, Energy, Leaseholder Support, Fire Safety and more, you can expect to stay abreast of the latest legislations and industry news. 🔗 Check it out: https://hmlgroup.com/blog/ #PropertyManagement #LeaseholdServices #Blog #News #KnowledgeSharing #HML #Leaseholders

🏢🔍 Quick Tip from a Commercial Property Inspector: Know your roof material and why it matters! By identifying the type of roof you have—you can better understand its maintenance needs and lifespan. This knowledge helps you plan for repairs, budget for replacements, and ensure the longevity of your property. Stay informed to keep your investment in top shape! 🛠️🏠 #CommercialProperty #RoofMaintenance #PropertyCare #SmartInvesting

As we embark on the post-settlement deed rectification works, the SPMS team initiates a meticulous review of the executed Deed of Settlement. This includes comprehensive scrutiny of its work schedules to prepare rectification plans for the agreed items identified in expert reports, ensuring they receive the necessary repairs or further investigation as stipulated in the Deed of Settlement. Moreover, SPMS prepares a detailed timeline summary specified in the Deed of Settlement, facilitating adherence to agreed-upon deadlines throughout the rectification process. This proactive approach holds the Builder accountable while ensuring compliance from our Experts. Through our streamlined coordination process, we actively engage with the Builder to secure essential documentation and information outlined in the Deed of Settlement, such as the Construction Program and Declared Design. This ensures that all required data is readily accessible for lot owners and the building’s insurer. Furthermore, SPMS collaborates closely with our experts to discuss the construction program and identify critical hold points, enabling us to address key aspects of the rectification effectively. #buildingdefects #sydneybuilding #indsutrynews #sydneyconstruction #buildingdefects