The average cost of rebuilding a home in Donegal jumped by a quarter last year, the Society of Chartered Surveyors calculates.
It costs €201,000 on average to rebuild a 98sqm 3-bed semi in the north west region in 2022, whereas the same project would have been €55,000 less in 2021.
The figures however, do not account for Mica-defective homes, the SCSI stated. The society said its estimates for rebuilding Mica homes were based on building regulations and standards which were in place prior to 2007, as agreed by the Department of Housing.
The Defective Concrete Block Grant Scheme, published last February, includes the SCSI’s cost calculations on a per square metre basis covering eight different house types, including estate type houses and one-off rural homes in the North-West.
The report said that the average cost of demolishing and rebuilding a home on the Defective Blocks Scheme would range between €150,000 to €421,000. This equates to around €145-164 per square foot based on February 2022 prices.
SCSI REPORT ON CONSTRUCTION COSTS FOR THE DEFECTIVE CONCRETE BLOCKS GRANT SCHEME
The SCSI said the main reasons the rebuild costs reported in the DCB are lower than the latest Home Rebuild Guide are;
- The lower insulation, mechanical and electrical specifications which applied pre-2007
- The exclusion of the cost of replacing foundations from the DCB scheme
- Significant construction cost inflation in the 7-month period since the DCB report was drafted (the report was drafted prior to the Ukraine war)
- Local construction cost inflation due to an increase in people purchasing and renovating properties in the North-West region due to an increase in WFH
