Home Insurance in 75252>Question Details

Mary, Home Owner in 75252

I need the Building Cost per sq/ft for SF home in Dallas, COLLIN CO, TX 75252

Asked by Mary, 75252 Wed Dec 15, 2010

to determine the replacement cost per sq ft used for insurance purposes.

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Agreed you need to be a little more specific. Is this for your own information? Your insurance agent should have their own resources. Just running a quick CMA on sq footage I found that of the 125 active properties the average was $131. Of the solds in the last 6 months the average is $106. A huge word of caution on using these figures you need to be comparing oranges to oranges - what type of sales were these? Are there any short sales or foreclosure affecting these figures? There are buidling costs as well as replacement costs and these are not necessarily the same, check wtih your agent
1 vote Thank Flag Link Wed Dec 15, 2010
How much would it cost per square feet to build in Garland, Texas?
0 votes Thank Flag Link Tue Dec 30, 2014
Hi Heidi! I grew up in Garland, and there are quite a few reputable builders in and around the city. If you are interest in building in Garland, give me call.
214-701-3744, SpecialAgentHeather@gmail.com
Flag Thu Jan 1, 2015
There just isn't enough data given to provide you with a specific answer to the cost per sq/foot question posed.
0 votes Thank Flag Link Sat Apr 21, 2012
As many have pointed out the building cost varies a lot.
To understand this better, some homes have high ceilings (which increases cost psf) - some have 8 ft, some have double-E windows in vinyl frame - some are wooden low-E etc, some homes have crown molding - some don't, some have a lot of woodwork besides crown molding or chair rails or wainscoting - some don't have any of these. All of these building particulars change the cost per square foot, not to mention the amenities, like ceramic or scraped wood flooring as opposed to carpet or vinyl, bath fixtures, light fixtures, wiring for sound, Internet, phone, alarm and so on.

Insurance agents use an estimator that is based on zipcode, square footage, description of rooms and some fudge for building quality. Your insurance agent should be telling you his estimate to replace, not the other way around.

Remember also that part of the property cost is land, which will not burn down. Building cost is not the price listed in MLS divided by the square feet of the building. That would grossly overstate the building value psf. A rule of thumb is to subtract out the land value shown in CAD and then divide the remaining as-is value by the square footage. This answer can still vary between 35 and 150, depending on all the factors above. But you can guess the replacement cost by dividing that result by the undepreciated percentage (remaining life proportion).
0 votes Thank Flag Link Thu Dec 16, 2010
You probably need to be more specific....anywhere from $50-$200sqft is a big range depending on what type of home you have and the finishout. Your insurance agent should be able to guide you.
Web Reference: http://www.teamlynn.com
0 votes Thank Flag Link Wed Dec 15, 2010
Bruce Lynn, Real Estate Pro in Coppell, TX
You would need to speak with your insurance company about that or contact a licensed insurance adjuster that is familiar with the area that you live in.

There is a difference in the replacement value and actual cost to rebuild because of differences in exterior finish (brick vs stucco vs wood siding) and a vast difference in every aspect of the interior from carpets vs wood floors to the quality of appliances and the furnishings that were inside.

If you are asking because you feel you are not getting a fair price from your insurance company, ask to see their adjusters information including license number, area of normal work, and his appraisal of the damage. If you still don't like it, ask the insurance company if you can use a 3rd party adjuster of your choice for a second opinion.

If you have any questions, don't hesistate to contact me.

Brian Rayl, REALTOR®, e-PRO
Keller Williams Elite Dallas Park Cities
Web Reference: http://brianrayl.com
0 votes Thank Flag Link Wed Dec 15, 2010
Your insurance company would furnish you that data. Much more info. is required than just a zip code determine price per sq. ft.

Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
0 votes Thank Flag Link Wed Dec 15, 2010
There is not going to be a simple answer to your question. Many factors go into building a home, exterior choice, interior choices (granite vs other counter choices in all areas kitchen, bath etc) carpet vs hard wood floors and the list goes on. You need to speak with the specific builder you are going to use or interview several and see what they say based on your direction. Also be sure to add at least $10,000 to the bid for any changes you might make and believe me you will make changes once you start the process,

MaryBeth Harrison
Keller Williams Realty
Web Reference: http://www.DallasNative.com
0 votes Thank Flag Link Wed Dec 15, 2010
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