True Condo Cost
Home

Calculator

Dwelling Coverage Calculator

Free dwelling coverage calculator: estimate condo replacement cost for HO-6 from square footage and rebuild cost per foot—not purchase price.

By True Condo Cost editorial team · Editorial standards

Dwelling coverage calculator searches want rebuild cost for HO-6 interior limits. Enter square footage and local rebuild cost per foot from your agent— not market value or Zestimate.

Pair with the condo insurance calculator after you quote HO-6, and with the loss assessment calculator when master deductibles are large.

Unit and rebuild inputs

What this means

Enter square footage and rebuild cost per square foot to estimate dwelling replacement coverage for HO-6 insurance planning.

Assumptions and limitations

  • Rebuild cost per square foot is user-entered; we do not pull local construction indexes.
  • Replacement cost differs from market value and purchase price.
  • Master building insurance is separate and paid through HOA dues.

Frequently asked questions

What is condo replacement cost?
Replacement cost is the estimated cost to rebuild your unit's interior finishes and structure covered by your HO-6 policy, using current construction prices. It is not the same as what you paid for the condo.
How is replacement cost different from market value?
Market value includes land, location, and demand. Replacement cost covers rebuilding the unit itself. Insurance dwelling limits should track rebuild cost, not resale price.
Does the HOA master policy cover my replacement cost?
The master policy covers common elements and the building shell per your association's coverage type. You still need HO-6 dwelling coverage for interior finishes, fixtures, and belongings.

Run these next

Most buyers model HOA, insurance, and assessments in separate passes.

Dwelling coverage calculator for HO-6 quotes

This condo replacement cost estimator—also what searchers call a dwelling coverage calculator—multiplies interior square footage by rebuild cost per foot to size HO-6 dwelling limits. It does not use purchase price, Zestimate, or market value.

Enter rebuild figures from your insurance agent or contractor for the specific building. Finish quality in a renovated unit can push per-foot cost well above a generic regional average.

Replacement cost vs purchase price

HO-6 dwelling coverage should reflect the cost to rebuild cabinets, flooring, fixtures, and interior walls—not the share of land and location embedded in your offer price. In bare-walls master policies, you carry more interior risk than in all-in buildings.

After a kitchen or bath renovation, update dwelling limits before closing. Underinsuring interiors is a common gap when buyers copy the seller's old HO-6 declarations.

  • Purchase price: market value of the whole unit interest
  • Replacement cost: construction cost to restore interior finishes
  • Personal property: belongings limit—separate line on HO-6
  • Master building shell: usually funded through HOA, not your dwelling limit

How to estimate rebuild cost per square foot

Ask your agent for a replacement cost estimate tied to local labor and finish assumptions. High-rise units with custom millwork differ from garden-style stock with builder-grade finishes.

Run low and high per-foot scenarios if you only have a range. Enter the result in the condo insurance calculator to see monthly premium impact once you have a quote.

  • Standard finishes: agent or insurer replacement cost tool
  • Post-renovation units: contractor bid or appraiser rebuild note
  • High-rise vs townhome: labor and access affect per-foot cost
  • Do not use national blog averages as your only input

Pair with insurance and loss assessment tools

Dwelling limits are one line on HO-6. Master policy deductibles may require loss assessment coverage even when dwelling limits look adequate. Quote the full policy, then model monthly cost and deductible exposure together.

Read whether the master policy is all-in, single entity, or bare walls before you finalize dwelling limits—coverage definitions change how much interior damage falls on HO-6.

Before you bind coverage at closing

Confirm lender minimum dwelling requirements. Compare your estimator output to the agent quote and adjust limits if renovation or finish quality exceeds the default.

Keep a copy of the replacement cost assumptions you used—useful when renewing HO-6 after a remodel or when the association updates master policy definitions.

Condo Replacement Cost planning scenario

Inputs: 1,050 interior sq ft × $185/sq ft rebuild (standard finishes) → $194,250 dwelling limit before personal property and liability lines on HO-6.

Post-renovation unit at $240/sq ft → $252,000 dwelling limit—a $57,750 gap if you still carry the seller's old limit.

Limits of the Condo Replacement Cost

It does not replace an insurer replacement cost estimator or contractor bid.

It does not account for bare-walls vs all-in master policy definitions—confirm coverage type before binding.

Last updated: June 2026

When to use this calculator

  • You are sizing HO-6 dwelling limits before binding coverage
  • You renovated interiors and need updated limits
  • Master policy is bare walls and you carry more interior risk

Inputs you need

  • Interior square footage
  • Rebuild cost per foot from agent or contractor

How to interpret the result

  • Dwelling limit should track rebuild cost, not purchase price
  • Run low and high per-foot scenarios if finishes are uncertain

What this calculator does not know

  • Live tax bills, insurance quotes, or HOA budgets from any database
  • Lender approval, HOA questionnaire results, or project eligibility
  • Future HOA increases unless you change the inputs yourself
  • Personal property, liability, or loss assessment limits
  • Master policy coverage type without your input

Documents to verify before relying on the estimate

  • HO-6 quote and master policy coverage definition
  • Renovation scope if unit was updated

Educational estimates only. Confirm figures with association documents, county tax offices, and licensed professionals before you make an offer.

Frequently asked questions

Is replacement cost the same as purchase price?
No. Replacement cost estimates rebuilding the unit interior at current construction prices. Market value includes land, location, and demand factors your HO-6 dwelling limit should not mirror blindly.
Who provides rebuild cost per square foot?
Your insurance agent, a contractor familiar with local condo finishes, or the insurer's replacement cost estimator. Enter that figure here; we do not look up local indexes.
Is this a dwelling coverage calculator?
Yes—searchers use that term for the same HO-6 interior rebuild math. Multiply square footage by rebuild cost per foot, then compare to your agent quote.

Sources to verify before buying

Use this checklist during due diligence. Calculators help you plan; these documents tell you what a specific building actually costs.

  • HOA budget and audited financials (or reviewed statements if the association is small)
  • Reserve study with percent-funded and component schedules — often prepared under CAI / APRA standards
  • Master insurance declarations: carrier, deductible, wind/hail sublimits, and coinsurance
  • Board minutes covering the last two insurance renewals and any assessment votes
  • Written special assessment notices and payment plans
  • County assessor or municipal property tax estimator for the parcel (not a neighbor’s bill)
  • HO-6 quote aligned to master policy gaps — confirm with your state Department of Insurance licensed agent
  • Lender condo questionnaire or Fannie Mae / Freddie Mac project review status for warrantability

Related calculators

Explore more tools for your condo search

View all

Related guides

Learn the basics before you run the numbers

All guides

← All calculators