Rebuild Costs - Alvor

[butterscotch]

Hi,

I have a 1 bed apartment in Alvor. It is on the top floor of a 3 story condominium. I need to get a value per square meter for rebuilding (to cover things like clearing the site, architects fees, rebuilding the property and reconnecting gas, water etc.) for insurance purposes. I have a few questions.
1) Does it matter that I am on the top floor (and therefore have an actual roof)?
2) Is there a different unit rate for internal area rebuild and external e.g. patios
3) I've heard that rebuilding using local builders can be much higher than using builders from outside Algarve. Is this correct? (If replying please state where the rates you are giving apply from)
Thanks,
B:hmmmm2:

 

[MarcoSousa]

Well, for insurance purposes i would expect the whole building to matter, since (has already happened) the taking down of the wrong wall can provoke damage on the whole building. In regards to responsibility, normally the exterior area of the building such as roof and exterior wall are the responsibility of the building management (Condominios). Never a less, if its not damaged, but you damage it, its obvious that you will be held responsible for the damage.If the question is that its damaged and in need of repair. You will have to take that up with your building administration.
2.Normally there is a different unit rate due to materials, fiscally the coefficients are different. In reality, well it really depends on what´s needed to be done.
3. Its more likely, regarding that local builders will tend to try take advantage of foreigners. But its all about how lucky you are finding a good honest professional. Because they will try their luck be it that your irish, be it you an uninformed local person. The best advice is take a bunch of quotes, and always negotiate with the attitude that you know they can do it cheaper.

As always, this is all very depended on the extent of the renovations required.

 

[Lysos]

A reputable insurance broker would tell you how much to insure for & explain the whys & wherefores.

Normally, the service charge for a purpose built apartment would include an element for rebuilding costs; it is unusual for a single apartment to have individual insurance cover for rebuild costs for obvious reasons.