August 2025

Buying a home is likely the biggest investment you’ll ever make, so insuring it properly is both a logical and a fiscally prudent step. A key part of that process is factoring in the rebuild cost of your home when purchasing or renewing your home insurance. Estimating this cost accurately, especially in light of rising construction costs and inflation, helps you avoid the pitfalls of underinsurance.   

In fact, recent research by the Society of Chartered Surveyors Ireland (SCSI) found that the national average cost of rebuilding a home has risen by 6.2% in the past year. Having the right home insurance coverage not only gives you peace of mind but also acts as a safety cushion if something unexpected happens, like a disaster, burglary or even mishaps such as burst pipe.

Rebuild cost typically covers the expense of reconstructing your home from the ground up, including materials, labour, demolition, site clearance and professional services.  

It is important to understand that this figure is different from your home’s market value, which is the price an estate agent would place on your home if you were to put it up for sale. For insurance purpose, it’s the rebuild cost, not the market value, that needs to be quoted.

The average rebuild cost in Ireland falls between €2,368 and €3,300 per square metre, depending on your home’s size, design, and location.  

As per 2024 figures from SCSI, the minimum base cost of rebuilding a 3-bed semi-detached house (98sqm) - the most common house type in Ireland - vary from around €247,744 in the North-West region to €312,620 in Dublin.  

Elsewhere in Cork, rebuilding a similar structure would cost around €280,280, while in Limerick it would be around €267,882.  

The capital city of Dublin, according to the SCSI report, tops the list with highest rebuild costs while the North-West region has the lowest. 

It is to be noted that these figures, cited by SCSI, apply to estate-type homes only and should not be used for other types of properties such as one-off countryside homes or period houses. The above figures are the minimum base cost and inclusive of 13.5% VAT on building costs and 23% on professional fees.

If you're new to homeownership, check out our guide to home insurance that will explore the rules, types of cover available and tips to help you navigate insurance options.

For insurance purpose, you can use the free SCSI rebuild calculator to get a broad estimate of the cost of rebuilding your house in the event of a total loss. The tool provides the estimate based on your property’s type, size, and location.  

You will need to input details such as the house type (for eg: semi-detached, three-bed), the gross internal floor area (measured in square metres), and whether you have a garage. 

If your house includes higher-than-average kitchen fittings, wardrobes, or premium finishes like timber floors, you should add those details as well into the calculator. You should also take into consideration any outbuildings like an office or studio and add that estimate as well into the tool. 

Once you input these details, the calculator will give you a region-specific estimate of the rebuilding costs that you can download as a PDF.

If you have a house of a more unusual type such as bespoke properties, period houses (Victorian/Georgian) or properties with more than three storeys or with basements, we recommend that you have a reinstatement cost assessment carried out by a chartered quantity surveyor. They also help prepare claims for loss associated with damage to property. 

You can find local chartered quantity surveyor on scsi.ie under the Directory of Cost Estimate Providers.  

If you live in an apartment, check with your management company or agent in relation to block insurance.

If you are found to be inadequately insured, you could be penalised by having to pay a certain proportion of the reinstatement costs out of your own pocket.  

Here’s a simple example explained by SCSI President Kevin Hollingsworth: “If the actual rebuilding cost of a property is €400,000 but the sum insured is for €200,000, that property is massively underinsured.”  

“In the result of a genuine claim for damage covered under the policy of €90,000 being made, the insurance company payout will only be €45,000 as the policy holder was 50% underinsured. In this situation, the insured party will be obliged to provide the balance of €45,000,” Hollingsworth said while highlighting that many homeowners are not aware of this.  

“The onus is solely on the policy holder to maintain an accurate sum of insurance,” the SCSI chief added.  

He further said homeowners should reassess their cover to take account of any changes such as home office extensions or garden offices and include them in their house insurance.

Updating your house insurance while renovating ensures that all new additions are adequately protected.

As of 2024, the average rebuild cost in Ireland falls between €2,368 and €3,300 per square metre, depending on your home’s size, design, and location.

Labour and structural materials (like concrete and steel) are typically the most expensive. Kitchens, bathrooms, and energy-efficient systems also add significant cost.

Reliable sources include the Society of Chartered Surveyors Ireland (SCSI), Allianz Ireland, and your home insurance provider. 

This guidance is for general information purposes only. 

Information correct as at 13/08/2025.