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Housing Replacement cost per sq ft

Posts: 50
Trusted Member
Topic starter

For anyone who has had a replacement cost appraisal- what was the approximate amount per square foot used to assess your replacement cost for insurance purposes? (Cement construction).



Posted : May 18, 2023 12:22 pm
Posts: 1057
Noble Member

Which island? 

Posted : May 19, 2023 3:08 am
Posts: 525
Honorable Member

There's no set number, only a range.  The replacement cost/sq.ft. will depend on the type of finishes you have in the house.  The cost to replace a structure with "builder's standard" finishes will be, by definition, lower than replacing a home with higher end "designer finishes".

Posted : May 19, 2023 9:15 am
Posts: 2935
Famed Member

Posted by: @afriend

There's no set number, only a range.

That's probably why the OP asked for an "approximate amount"...


Posted : May 19, 2023 10:07 am
Posts: 14
Active Member

I recently got insurance and they asked me what I wanted to use as a replacement cost. I based it on what a major renovation cost me (after Maria). Almost everything (including the roof) other than the basic structure was redone in the renovation. So I extrapolated from that what a rebuild might be and it came to about $450 sq ft which I hope is generous enough. It's a smaller, 1100 sq ft home (2 bed / 2 bath) located on the east end of St Croix. The finishes would be considered upper mid-range - including hurricane windows / doors and an expansive deck. The structure is wood frame.

Posted : May 20, 2023 8:57 am
Posts: 532
Honorable Member

This isn’t exactly on point but I recently finished 3 car garage on the east end of St. Croix.  So nothing but a box, minimal electric from the house meter, no water but it was built on the side of a moderate hillside.  The construction was cement (combination of poured and block with a lot of rebar) so it’s a bunker for sure.  It ran about $160 per square foot and that’s only the structure, no landscaping.  My guess is for a house, with interior walls, plumbing, kitchens and bathrooms you’d need to more than double this number, $500 a square foot seems about right for a moderate finish level, but the sky is obviously the limit.

Posted : May 22, 2023 11:05 am
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