Fire Insurance. How do you proove value?
11 years ago
last modified: 11 years ago
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- 11 years ago
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How do you value your old house for insurance?
Comments (15)"Just out of curiosity, who here thinks that you can build an new old house? " You do not have to use old materials, just old techniques in most cases. Plaster instead of drywall, mud beds for tile floors and walls instead of cement board, etc. You neither can use nor want lead plumbing (DWV or supply), but cast iron is still available (though not with poured lead & oakum joints). Electrical wiring has moved a long way since K&T (and the lack of any electricity before that in many houses). Hardwood floors are not going to be as tight a grain as very old stuff (especially if it was virgin timber) but there is no shortage of wood flooring, even in very large widths of you want to pay the cost. Virgin reclaimed (from old buildings or bodies of water) is also available. There is no reason to use full size dimension lumber (though it can be found if you want to look & pay). Joist spans are likely smaller than in very old structures, so extra wood is likely to be needed (I have never considered the bouncy floors of an older structure a 'feature' worth preserving or repeating. I do not think anyone wants to exactly recreate the old house, just the important parts of the surface finishes. I have repaired 18th century townhouses in Alexandria, VA so that you cannot even tell without putting a hole in the wall to see the new framing and wiring....See MoreCan I Buy Just Fire Insurance on a House?
Comments (10)Pam, I meant working horse farm versus a house on ten acres with a shed out in the back that some people are calling horse properties. Our farm is not a business. It's not even in Farm Assessment. Around here, a lot of people keep horses in ramshackle sheds and barbed wire. I have a barn that you could practically live in with real box stalls, mats, electric, hydrants, an arena, everything. There is value to that but it is not a business. I probably shouldn't have called it a "working" horse farm. I actually spoke to FHA themselves about it. They told me that they do not exclude agricultural properties and suggested that my buyer try to get an FHA loan through another lender. They said it was the way the lender was interpreting their rules but they do not have a rule against acreage or barns or agricultural zoning unless the acreage is more than the surrounding properties. And mine is not. It's one of the smaller pieces in the neighborhood. I told my buyer all this but I think she got cold feet because she stopped pursuing it. I guess I have to be really careful about how I describe it. Good grief, I can't believe I'm getting penalized because my barn's too nice! Maybe I ought to just replace the board fencing with barbed wire, take out the mats, disconnect the hydrants, and let everything get all overgrown! As they say around here, it don't make a lick a sense, lol....See MoreFire Damage - Insurance Claim Question
Comments (4)You said the key word: tile. Tile, like brick, is hard to color match. The color differs from firing to firing. Usually, all the tile for one roof comes from one batch of kiln firing. Look into other tile makers to see if they can come close to matching the style and color of your tile. You'll need to take along a sample tile. One alternative would be to remove all the tiles from the roof section that will be rebuilt and mix the old tiles with the new tiles. The roof will have a shingled effect rather than a continous color. However, this is a lot of work and it appears that your insurance company will not cover the extra labor. You may have to hire a lawyer or offer to pay for the extra labor. There is an upside. From your description, your house may have been saved because it had fire resistant roofing material. Remind your insurer that they could have been paying for an entire house, not just a roof repair....See MoreHow do you value a pole barn?
Comments (9)In our area (small midwest town) pole barns are not a detractor. In general, they're a plus, especially on acreage and in the country...they're kind of expected. But I wouldn't call them such a plus that they add their retail cost to the home's value. I went and viewed the place yesterday. For the record it's a very nice pole barn: great concrete, sufficient power, large roll-up doors, drain in the center. I'd love to set up shop there, and Mr. Weedy's sorely missing having a garage. But the house was just meh. 70s vintage, low ceilings, no basement (current home has one). I can't see enjoying living there more than where we currently are in town....See More- 11 years ago
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jim_1 (Zone 5B)