Anyone want a Wendy House?

[Dorkeaux]

If you are a house owner, you might notice on your insurance documents that the rebuild cost of your house is a smallish fraction of what you paid for it. That's from the ground up..

So it must be the land that holds the value, right?
Nope.

Look at what the same size plot costs right beside you without any hope of planning permission. Almost nothing.

So it's neither the house nor the land that costs, it's planning permission that you pay for. An amazing situation IMO.

[Paddy]

If you are a house owner, you might notice on your insurance documents that the rebuild cost of your house is a smallish fraction of what you paid for it. That's from the ground up..

So it must be the land that holds the value, right?
Nope.

Look at what the same size plot costs right beside you without any hope of planning permission. Almost nothing.

So it's neither the house nor the land that costs, it's planning permission that you pay for. An amazing situation IMO.

I would guess it's un-insurable.