The best contractors have generalized knowledge that allows them to apply their expertise at every stage of your home remodel — they can answer your questions, help you make adaptations as the project progresses, and generally handle all the stress that may come up in the project. For these services, general contractors will usually charge a percentage of your total project budget.
What should you expect this rate to be? As a rule of thumb, general contractors will charge between 10 and 20 percent of the total cost of your renovation or remodel. This rate will likely depend on the size and scope of your project, your geographic location, and the materials, labourers, and permits required for the job. There are also some general contractors that will charge a flat rate for their services.
Ultimately, it is very important as a homeowner that you negotiate general contractor fees before you sign a contract. However, there were more ceiling lights than we asked for, and more expensive wood floors than we discussed. Do I have to pay him this much? It isn't uncommon for contractors to give an "estimate" of how much they anticipate the work will cost.
An estimate should be the contractor's best professional assessment, including the cost of hiring any subcontractors, the price of materials, and any other labor involved. Getting an estimate from a contractor is different from getting a quote.
A quote is an offer to enter into a contract. It should be the exact amount that a particular task will cost, without much "wiggle room. You refer to "accepting his offer" as if you thought you were accepting a definite contract for a sum certain.
Unfortunately, by your description, you did not receive a precise quote, only an estimate. Estimates, generally, must be professionally reasonable. A contractor who does discover problems in the course of work would normally notify the homeowner and explain the possible budgetary ramifications. A change order, explaining the costs and changes involved, should be agreed upon. Here, it sounds like your contractor never notified you of any such issues; indeed, it sounds like even in the invoice, he hasn't explained the dramatic price difference.
There was no formal change order. Moreover, the contractor spent money on nicer flooring and lighting than what you discussed.
A contractor cannot, of course, intentionally increase the quality of materials beyond what you requested. What should you do in this circumstance? If possible, begin with a non-hostile phone conversation. Ask the contractor to explain why the price rose so dramatically from the initial estimate.
He will likely say something about unexpectedly high expensive labor and materials. Request an itemized invoice, explaining that you do not feel comfortable remitting any payment until you can further examine this issue. This invoice should include a list of many suppliers, subcontractors, or workers on the project, and a listing of all materials purchased.
You should also consider paying via credit card instead of cash — doing so better protects you against fraud. If a contractor offers you a construction loan or financing plan, make sure to shop around with different loan companies and compare your options before you agree to finance the work with that company.
If the contractor charges you more than was outlined in the contract, work to resolve the issue with the contractor. Familiarize yourself with the type of contract you have to make sure that the surplus amount was not actually cost overruns. However, if you run into problems, you can go to your local home builders association or the consumer protection office. Make sure to keep records of any phone calls, emails or messages that you exchange with the contractor.
General contractors provide skilled, high value services and paying for those services can be a worthwhile investment. You might be able to do some small jobs or new home improvement projects yourself, but messing up a large-scale renovation such as an added room or a new kitchen can be time-intensive and costly. If you find the right contractor, it can be absolutely worthwhile. Millions of people ask Thumbtack for help with their projects every year.
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See all. Events and more. Other Info. Cancel Search. How much will your general contracting cost? Get a free estimate. Thumbtack Cost Estimates General Contracting. How much does a contractor cost? What is a typical markup for contractors? General contractor prices by scope and size Price examples for general contractor projects General contractor hourly rates How do general contractors set their prices? When to hire a general contractor How to choose a reputable contractor Creating a contract or written agreement Find a general contractor near you FAQs.
Find a great general contractor in your area. Search pros. General contractor prices by scope and size. Find the best general contractor in your neighborhood. Price examples for general contractor projects. General contractor hourly rates. Compare prices from general contractors near you. Get estimates. How do general contractors set their prices? Time-and-materials contract Under this type of contract, the general contractor will give you an estimate that is subject to change.
When to hire a general contractor. Find the right general contractor for your project. How to choose a reputable contractor. Here are a few steps you can take to make sure you hire the best possible contractor for your project: Step 1: Compare your options online.
Step 2: Gather free estimates. Get a free estimate from a great general contractor near you. See pros. Step 3: Ask about permits. Step 4: Ask for references. Step 5: Ask about insurance. Step 6: Ask about licensing. Creating a contract or written agreement. Before you sign anything, read the contract carefully and make sure it has the following information: Dates for the start and completion of your project.
These can be estimates, but they should still be included in the contract. A payment schedule for all parties. Make sure this includes any subcontractors or suppliers who will be working on the project.
Scope of work. For example, if you expect the contractor to be responsible for cleanup after the project, make sure that it is specified. An itemized list of materials.
Include the total cost and unit prices for each product and who is responsible for purchasing it the contractor, you, a subcontractor, etc. Contact information for the contractor. Make sure this includes their name, address, phone number, and license number. Search local general contractors and check prices.
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