[COLOR=#810081]http://www.independent.ie/national-news/homeowners-overpaying-insurance-due-to-slump-1693268.html[/COLOR]
Quote Originally Posted by Indo
Many people are paying home insurance premiums based on rebuilding costs that prevailed at the height of the property boom, the [COLOR=#0000ff]Professional Insurance Brokers Association[/COLOR] (PIBA) said. But construction costs have since crashed and homeowners should review their insurance cover, [COLOR=#0000ff]Diarmuid Kelly[/COLOR] of PIBA said.
Remember this kids when they tell you rent is dead money etc etc.

Tizona said on 12th June 2008...
Quote Originally Posted by Tizona View Post
Oh Hanley! You've fecked up BIG TIME here.
I happen to have - right here on my computer - the very same SCS Build Cost chart you favour, but from 2006 (which I think you'll agree was the height of the boom).

According to the SCS, the build cost per SqM of a Detached House in 2008 is 2,071 euro (Dublin Area).
According to the same table from 2006 - the build cost for a detached house was 1,942 euro (Dublin Area).

So Hanley, I'm sorry to tell you, your savings are going backwards. You are losing money.
Now who's the fool?

Your build cost has risen by 129 euro per SqM, so your 2,000 Sqft house (approx 200 Sqm) is now going to cost you 25,800 euro more than in 2006.

Now remember Hanley- before you fly off the handle in a foul mouthed rage - this is YOUR chosen source.
To quote you 'these prices are "presumably as sticky as selling prices".
If you say so Hanley.

What you seem to forget (again) is that commodity prices are rising, and costs of transport are rising.
Hanley,the bad news is - if you expect 'savings' to pay for your site - you're gonna be renting for many, many years.
Quote Originally Posted by Tizona View Post
Hanley it was you yourself who pulled out that link to the Chartered Surveyors build costs. It was you yourself who used it to demonstrate that build costs would fall and 'the savings' would buy you a site for your house.
Your own link has proven you wrong - misguided even. Your build cost has been rising.

Now you tell us you know better than the Chartered Surveyors, and their figures are wrong - because you say 'They Will Fall'.

According to the Chartered Surveyors the build costs in 2008 are expected to be 7% higher than in 2006. With inflation running at 4% you can expect them to be higher again next year, even if there is a slump in building activity.

Where is this predicted fall in costs coming from Hanley? Everyone but you seems to think costs are rising in this economy!
Build costs will not fall, because raw materials are getting more expensive.