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  1. #1
    Join Date
    Jul 2009
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    Default contractor costs

    Does anyone have a per hour cost range for contractors in the south, more specifically, charlotte, nc area?
    We are doing an extensive renovation of an old farm house and have a highly recommended contractor who does all the work himself except hvac, plumbing, electric. He uses no employees.
    Just looking for an average cost.
    Also, are there any other ****** resources for finding these numbers?

  2. #2
    Join Date
    Aug 2007
    Posts
    6,617

    Default Re: contractor costs

    The only way to know what the going rate is in your area is to get competitive bids. Make sure the job scope given to each contractor is identical, and when they return their bids to you, go over everything by line item to make sure that everything spec'd is included.
    I suffer from CDO ... Its like OCD, but in alphabetical order, LIKE IT SHOULD BE!!!

  3. #3
    Join Date
    Mar 2009
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    1,387

    Default Re: contractor costs

    Howdy consider calling your homeowners insurance claims dept and ask them what the average cost is in our area...
    or call contractors and ask them.

  4. #4
    Join Date
    Nov 2009
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    1

    Default Re: contractor costs

    People always look for the Contractors who are skilled experts in their spe******t often technical field, having niche skills or extensive experience in multi-million dollar, time critical technologies or business projects.

    So hiring a professional contractor is a better choice as our job will be done on time and with less effort on our part as well.
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  5. #5
    Join Date
    Aug 2009
    Location
    Ladson,SC
    Posts
    192

    Default Re: contractor costs

    Follow Steves advice.
    If you want to get it done in a short time period hire a General contractor make sure he has all the required license and insurance also check refferences.
    If you want the avg. cost in NC it is -13% of the national avg.
    You can go to the National Construction Estimator 2010 Edition
    and find all related trades and cost per m/h or crew rate also a break down by line item of work.
    The cost in your area of NC. for a carpenter is $35.00 per/Hr.No supervision expense is included, payroll taxes are included.
    No materials or special tools are included.
    Also chech the R L Means Estimator Guide.

  6. #6
    Join Date
    Dec 2009
    Location
    Casper, Wyoming
    Posts
    159

    Default Re: contractor costs

    Make sure to get everything in writing, including a timeline, cost breakdown, including material, warranties etc. Check the BBB and do an internet search of the contractor to see if any questionable info,. comes ups. If a contractor does not want to give you a detailed cost breakdown then look the other way and find someone else. It could be a red flag that they are taking too much profit and overcharging you. Expect a 15-20% profit margin- this is average and fair to expect. Family and friend referrals are the best.
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  7. #7
    Join Date
    Oct 2010
    Location
    Baltimore, MD
    Posts
    17

    Default Re: contractor costs

    Key words: competitive pricing, disclosure, and market behavior

    Pricing theory: Market vs Formula based goods and services.

    Buyer beware, and "Trust, but verify." To that end, the price of a home improvement is always what you are willing to pay; therefore, conduct your competitive pricing due diligence, and be sure to negotiate the price beforehand. Moreover, get as much in writing as possible (a vague contract is cause for suspicion) . But be advised, some well intended and respectable contractors eschew written, contract details, e.g., "Disconnect old boiler, and install new boiler." Are they also going to haul away the old boiler? And some don't. Or will this become a 'change-order' item? And regarding that new boiler, now is the time to rethink technology and operating expense, and should it be upgraded? Sounds pretty commonsensical, but as list turn into pages, and then folders, honest discussions get distorted and forgotten, and so do the estimated cost. Moreover, and back to market vs formula pricing; also think of market pricing as 'procedural' pricing - you are paying for a procedure, "Disconnect ... (purchase) and install new boiler." If you agree to pay $4000 for the 'procedure,' that's what you agreed to pay. A formula based approach (not to be confused with time and materials; they're not the same) calls for unambiguous line item disclosure: the name and price of the boiler (and the date it was manufactured), labor to install, and miscellaneous expenses. It's objective, and therefore, it can be fairly appraised and audited ... by both parties. It's far more difficult to challenge the former. Lastly, understand that the two pricing methodologies do not necessarily produce the same cost estimates; many times they simply don't add up. Market, or procedural pricing, is based on market demand, and reflects whatever the market will bear. And when demand is high, contractors are less inclined to provide detailed line item estimates; contractor pricing can take-on equity market behavior.
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