Consumption and Real Estate
How much should I charge for remodeling projects?
Question : How much should I charge for remodeling projects?
I worked for a remodeling company for a couple years and now am in a different line of work. I still do side projects sometimes. What is a fair hourly rate for general remodeling like replacing a bath tub, tiling a floor, building a deck? The company I worked for charged $ 65/hr and paid me $ 20/hr. I’ve charged $ 20/hr in the past. What about a friends and family price? Keep in mind these rates are in the midwest, not CA or NY.
remodeling projects
Best answer:
Answer by jackjacoman
cost of materials x 2 .thats it.
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#2 written by bill b 1 year ago
cost of materials x 2???
So to drive to a home and install a $ 4 toilet paper holder gets him $ 8? Or a free standing hot tub will bring in $ 5000 for a 3hour installation?
Charge depending on your experience. 1 year [2080 work hours] of experience is probably worth $ 20/hr in the Midwest, providing you really have no overhead. After 5 years of full-time workweeks, you should be getting around $ 30/hour. This is for general residential work, not specialty jobs like intricate staircases, fireplace installation, or anything that is “custom”. Charge your friends $ 0 for little 1 hour projects, but let them know you HAVE to charge them the going rate for anything that takes time away from your regular workdays or your leisure time. Otherwise you will become #1 on their speed dial, and it won’t be for inviting you over for a BBQ.
Remember the employer was charging $ 65 because of paying your wage, workers comp [about 33% of your wage] , liability insurance, advertising, tools and supply inventories [nuts, bolts, nails, etc], office supplies and inventory, and anything else a business will expense. He [the company] is probably making $ 10 or less per/hour per/worker.
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#3 written by LuckyD 1 year ago
Find out if your state requires a registration or license with home improvement contractors. The first offense can be a $ 10,000 fine with time in some states. You have to plan out your pricing by what your overhead costs you for the amount of time it will take per job. In a contract, you can separate the cost of materials and what you estimate the time a project costs. Keep in mind what it costs you having overhead. Nothing is black and white when it comes to pricing. I charge close to $ 125 per hour in most cases and still beats most prices in NJ. The work and word of mouth about your work should decide weather or not you are charging too much or too little. Also, I’ve never had a one time customer or a customer who didn’t refer me.
Getting registered or licensed only makes you look better than the fly-by-night contractor. Good luck either way you go about it.
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This is what I am doing full-time now. It seems prices vary a lot depending on location. I am in Iowa and I charge $ 35/hr. For friends, I pretty much leave it up to them to pay what they can afford. Sometimes for small jobs I just get a free dinner, which is fine with me.
Flooring is a different story. I charge by the square foot instead of hourly since that’s what the big guys do.