Between $250 and $58,000 is what general contractors charge, with $4,000 being the average price. This wide range is due to the fact that contractors work on projects of different sizes, from modest renovations that may only cost a few hundred dollars to big construction projects that may cost tens of thousands of dollars or more.
The size of the project affects the general contractor’s fee because they often base it on a percentage of the overall project cost.
Hourly Rates
While the majority of general contractors prefer to bill their clients using the cost-plus technique, some will also agree to work for an hourly fee. Contractors are paid an hourly fee of $50 to $150. A general contractor would probably demand that the client commits to a certain minimum number of hours if they agree to work at an hourly fee.
Fixed Bid
With this approach, the contractor gives the client a fixed fee that includes all labor and supplies needed for the project from beginning to end. Customers like fixed bids because they can see the price upfront, and there are no unexpected price increases or additional fees in the middle of the project, but contractors typically don’t like this approach.
With a set price, the contractor is required to hire subcontractors in advance and determine precise pricing for supplies and equipment in order to produce an estimate that is as accurate as possible and avoid financial losses at the end. This procedure can take a while, and if the purchaser rejects the offer, there might be no refunds.
How Much Do Contractors Charge For An Estimate?
A contractor will frequently waive their fee for an estimate, especially for simple or inexpensive work like painting a room or installing replacement windows. For larger tasks that require them to develop blueprints or drawings and seek bids from subcontractors, contractors may charge a fee to deliver estimates. A contractor may charge up to $1,000 for a consultation and estimate on these bigger tasks.
How Much Does It Cost To Do General Contract Work Myself?
You might want to attempt doing some of your building job yourself if you’re really handy. Despite the fact that doing so might save you money, there are some jobs where hiring a qualified professional is not only useful for managing all of the moving pieces but also significantly safer (think roofing or demolition work).
Building permits are frequently needed from your municipality for general contract work, including electrical, plumbing, HVAC/mechanical, and building or modifying structures. If not carried out by a licensed professional, this work frequently won’t meet building requirements. Building permits typically cost $1,200, although they may be as cheap as $100 in certain small towns and as expensive as $7,500 in big cities.
No matter which components of the project you choose to DIY, the cost will mostly be made up of the supplies and equipment required to do the work. You should also account for the time that such tasks can take to complete vs hiring a contractor to do it for you.
If you are interested in more articles like this, here’s one about structural engineers.
