Do you want to rebuild on the same lot or do you want a new lot?
To rebuild, you can just take the sledgehammer tool in build/buy mode and buildoze the house and rebuild that way.
For the latter, click on an adult Sim in your household. Go to their inventory and click their cell phone. Then click Real Estate... (I think that's the phrase they use) and click move. Move screen pops up and click your family members one by one and shift them over to the right side of the moving screen by the arrows. Next Pick Lot and pck the lot you want. Click accept. Voila! Or you go to Edit Town mode and evict your family. The family will go to your Clipboard (not the bin). Pick out your lot (make sure you can afford it), click on your family, place and buy the lot. Click button on top that says Return to Game.
Hope this helps! Sorry I am not in game so something could be different, but I believe it's correct.