Working on a project worksheet for determining the amount of my maximum bid on a property. I can itemize all the costs for various projects involved in a rehab based on material costs and previous experiences. My question is how much to add to the total rehab if I want to budget for using a contractor to run the show?? I was thinking like 20% or so, but I really have no idea…
General Contractors generally add 10% to the cost.
Visit Home Depot or Barnes and Noble and pick up the 2006 “Means Residential Repair & Remodeling Costs” book. It’s a contractors price guide, and this is the same book that subs would probably be using to price out work. It’s about $35 at either store.
If you want an ultra-detailed book you can get the “RS Means - Repair & Remodeling Cost Data, 2006”. This is the bible for contractors and estimators. Costs more, but if you’re going to be doing this in the future you need it.