Hello… we always give allowance to our clients, where we pay up to certain dollar amount per square foot. We also give an allowance for faucets, sinks, toilets, and lights… Fixtures and appliances are the owners responsibility as those can be very expensive. Depends on the clients taste. The most important thing is to think all this through before hand, and write it all in the contract. Take your time approving contracts. It will benefit you and the contractor. Also, have great communication. This always helps. Good luck!
We use a universal pricing software call Xactimate made for just this sort of thing. We have a licensed tech in house to assist in pricing our jobs.
we base a total project cost on Material cost Labor cost and Overhead cost
Unlike the sq ft pricing which may vary. We have a run time per project, crew size, trades, materials. For materials we provide a full accounting summary with copies of all project receipts the client receives at the end of the project (our closing package), in this package we summarize the project numbers, copies of receipts, reflect payments made, change orders and provide the warranty terms we offer. Blessings, Maria Cartage, Cartage Home Remodelers, Inc, Colossians 3:23
Per sq ft. Price
10-15 percent paid to contractor after contractor has homeowner pay bills. “Cost Plus”
We use real time price submittals and excel cost sheet to compare with RSMeans.com building pricing as well as consider the labor time required per project
Sometimes SF costs, but mostly off a set of drawings. Then we find it favorable to both the client and for us to do a Cost Plus Contract.
We price labor and rough construction materials, when it comes to finishing materials, we prefer that our client will have the flexibility to purchase whatever material they would like, we also encourage them to utilize our trade discounts. There are so many choices and possibilities when it comes to finishing materials, I prefer to educate my client rather than lock them into purchasing certain line.
In the Home Theater Industry we generally only use measurements to calculate a project when running wires through attics/walls/underground. Because the wires are charged by the foot. Otherwise, we like to do a thorough walk through and discuss all plans. We charge for the product and our labor for the Home Entertainment Industry is roughly 125 per hour.
Square foot pricing is probably a rough estimate at best. Previous experience is the most reliable way to come up with a more accurate budget. The reason for that is that many contractors have certain types of projects that they prefer to do and are most efficient at producing. Quality level of materials and size of the job factor into the budget as well. High end materials increase the cost per square foot for obvious reasons. Larger projects bring down the cost per square foot. All other things being equal, it costs more per square foot to build a 100 square foot addition, than it does to build a 500 sq foot addition because certain aspects of a job are required regardless and don’t increase with the size of a room. Bathroom plumbing could be one example of this. You need to plumb the vanity, shower, and toilet whether the room is large or small and the basic fixture plumbing doesn’t change much with the size of the room. Each project is different in its own way as there are many variables involved to come up with a project budget.
Often times contractors use a cost plus method. They take their costs, like materials and labor and add a certain percentage on top of that for profit. Often it’s 5-20%.
If contractor is giving you a cost per square foot, then be prepared for change orders. There is no reason today that you can not receive a breakdown of costs. SF pricing is just a way in the door with many surprises.
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cost of materials + cost of labor+overhead+ profit= total price
if you underestimate on the first 2, the profit will get smaller at the end of the project
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I look at how much time I will spend on the project. Adding additional work can be very cheap if I have to wait for a section to cure before moving on. In that time I can jump to the next room and start work there. Most of the time it is just easier for the homeowner if I give them per sq ft pricing and not let them worry about the trouble I can encounter
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Cost per unit, in my opinion is too vague. I’d make sure what materials are being used. The materials should be very specific to the manufacturer and the model #. This will dictate the workability and ,obviously, cost to the contractors. The materials cost per square foot are then multiplied by the square footage. The labor is then multiplied such as, 4 men at $200/day for x 5 days. Now add all the equipment costs, such as forklift, etc. not the handheld drills, etc, such should be on contractor’s overhead and profit. Lastly, add the contractor’s overhead and profit.
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Every project gets built or rennovated in my head before i price it. I walk myself through every step multiple times and add in costs as i go. Square foot prices are good for general guidelines, but should never be used to put a firm price on a project.
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Every project has its own identity and I find it hard to price out a lot of line items per square foot . always keep in mind your hard costs and unforeseen expenses.
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Square footage pricing is ok for large additions, but realistically all jobs are different and you can’t really put a square footage price on it. We basically will use cost plus on our bids, we will figure out how long each task will take, the amount of materials, & then mark it up. This gives the most accurate costs, at least that is how we feel.
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I believe there is a place for formulas, but only in the initial meetings. For example, if a client approaches me wanting to renovate their bathroom, I, as quickly as possible, state that my bathroom renovations usually run about 15K. If they had it in their minds, that they wanted to renovate their bathroom for 7K, then I’ve successfully sidestepped the waste research and bidding. No project will perfectly fit a formula, unless you’re doing a hundred of the same thing. (Like renovating hotel rooms, or building out a 100 home subdivision.) Every project has different street access, grades, septic requirements, special situations and needs, (like a ruthless building inspector) etc. I try to make sure my clients and I are a good fit, before I spend too much time. When it comes down to signing a contract, I’ve put hours/days into a spreadsheet with about 50 line items, delineating every aspect of the job including a 10% unforeseen contingency. This leg work really helps negotiate my clients misconceptions about pricing, most of the time I just show the whole itemized list. My process is to try and quickly weed through the unrealistic hopes of some potential clients and find the actual clients who want quality and understand costs, then when I find a client who is legitimate, I spend time researching material costs, and calling subcontractors for every aspect of the job.
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Add up your materials and get a price from a few contractors for labor (use the average price between the contractors), this will give you a good start.
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