It’s an old neighborhood in Englewood near South Broadway but what’s happening is investors are buying properties with old houses (like ours) knocking them down and rebuilding 2 townhomes. 

You’ll still have to pay taxes and insurance but maybe you can put off those expenses for a few months to rebuild your funds from cashflow.

That number should be based on the cost to rebuild from the ground up in case of a total loss (do not include the value of the land and do not base the cost on the resale value of the property). 

Reposition, tear down rebuild, add other buildings etc..A lot of things to consider Good luck

Replacement Cost: The cost to rebuild the structure with the same kind and quality at the time of loss2.

My hope is we may someday soon have a reverse trend of folks wanting to live in large cities and wanting to go rural again with the progression of technology (however it will likely take just as long for the re-population of rural America to happen again as it did for it to die - but we need more companies to embrace remote workers as we have the technology in a lot of positions within companies for many things to be done remotely, 2ndly we need driverless cars legal and working, 3rdly we'd need to rebuild some of the infrastructure or figure out a way (likely tax incentives) to get people to move back to these places so things like schools/banks/hospitals etc can reopen or be revived.  

If you tear it down and rebuild, would you have to redo the septic? 

Hi all, Should I insure my rental for its rebuild cost or market value?

. $1 million of liability coverage, Property damage/loss coverage to rebuild, and rental income loss coverage.

Typically (in most states / housing markets) market value (what you pay for the property) is usually less than what it would cost to rebuild the structure (replacement cost).