The reinstatement cost of a house is the cost it would take to rebuild the property in the event of a calamitous accident. In such instances, the reinstatement cost would include demolition, site clearance, professional fees, VAT and the actual rebuilding costs themselves.

The figures can be used as a guide towards insuring your home or for the reinstatement cost used on valuation forms, however the figures do not allow for internal furnishings such as furniture or carpets or outbuildings such as sheds. Therefore, you should take these into account also.

The figures themselves are given as a minimum guide for insurance purposes and are quoted in both square metres and square feet, the unit cost varying depending on what area of the country you reside in. 

Therefore, if you owned a four bed semi-detached home in Cork measuring 1,500 square feet (139 square metres), the applicable amount would be €183,000 (1,500 X €122 a square foot).

The guide to House Rebuilding Costs is published by the Society of Chartered Surveyors. Their web address is www.scs.ie and the guide is available under the publications category. The most recent table dates from March 2011 and is available here.

The two tables below show house rebuilding costs as measured in square metres and square feet.