What is the difference between the market value and rebuild value of my home?

The market value is the figure that represents a realistic amount your property would sell for on the market at the time the valuation is taken.

The rebuild value (or reinstatement cost) is the cost of rebuilding your home if it was completely destroyed from the ground up.  These costs might need to include things such as demolition of what is left of the original property, and clearance of the ground.  Surveyor’s and architect’s fees etc also need to be taken into account when considering the rebuild.