Home Insurance in 94611>Question Details

Bike Rider, Other/Just Looking in Oakland, CA

What is average per foot cost of rebuilding a single family home on a level lot in the Montclair /Oakland,CA?

Asked by Bike Rider, Oakland, CA Mon Aug 24, 2009

For the purpose of home owner's insurance.

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I can simplify this. I have been an insurance agent for over 10 years full time, realtor part time... A basic house, 1200 sq ft with attached 2 car garage u can calculate approx $150.00 sq foot or $180,000. For more custom construction use $250.00 and up... or $300,000. Each insurance company uses it's own costimators so the Cov A. will vary be company. U can use the above to make sure u have enough with any company but trust your seasoned insurance professional to work out the final numbers for u. The fact that the lot is flat vs being on a slope has more to do with acceptability. If that house slides down a hill the house is not covered for earth movement but the liability covers any houses u may land on below it. This is why insurance companies ask slope questions. Two different areas of the policy.
1 vote Thank Flag Link Tue Aug 25, 2009
Bike Rider:

I think some of the folks below have answered your question pretty well –
I would add - having a decent amount of experience building through contractors, architects as well as on my own -is to be understand where in a project cost per sqf can go over the estimate. This could take place during the plumbing/drainage stage for example but most of the time it takes place during the “finishing stages” - IE plaster, cabinets, fixtures, top flooring etc. – being aware of this before you go into the project and to try and get some clarity around how this will be addressed (with your GC or arch.) before you start the project.
Lastly, make sure you speak with an insurance agent about what the replacement value is per sqf. as this too needs to be weighed into what type of project you may be willing to get yourself involved with - for example, if you build at $450.00 per sqf. and your insurance agent will only insure $350.00 per sqf (for new construction) you need to have a policy that covers the gap.
Good luck - and feel free to ask me any further questions.
Scott
http://www.scottward.me
0 votes Thank Flag Link Tue Aug 25, 2009
Hi, I would check with several sources to get close to a realistic figure. I would start with The City of Oakland Building/Permit Dept: known as CEDA, Community and Economic Development Agency: 510-238-4330. They will give you info over the phone or in person regarding fees for plans, permits etc., which are a major cost factor in rebuilding. They will give you their price per square foot of valuation for the work. These are signficant fees. You should get some very useful information, and it may be eye opening! I would then get referrals from friends or reliable soures for three licensed contractors who can give you a range for rebuilding. I would talk to different architects as well to get their costs for plans. Different style houses cost more than others. Do you have a mid-century modern, or bungalow, or ranch, or contemporary? Different prices for different architectural styles, materials, finishes. A very general price per square foot figure is likely not going to be of much help to you.. I suggest you do the research to get as close as you can to a reasonably accurate price based on the specifics of your project in Oakland. Good luck!
0 votes Thank Flag Link Mon Aug 24, 2009
This is not easy to answer because there is so much variation in how a home is built; does it have 8 foot ceilings or 12 foot ceilings, a garage, single story or two story, et cetera.
If you want an accurate number try asking a contractor in your area.
0 votes Thank Flag Link Mon Aug 24, 2009
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