Construction-Pricing-Renovation Costs for Home Construction

Construction Pricing: How to Make the Right Buying Decision.

1) Pricing Factors:

When it comes to construction projects, pricing is a significant factor that drives the cost of any project, big or small. With numerous choices and many different sources to choose from, it can be challenging to make the right decision. At TSL, we prioritize quality over the easy and cheap method. While everyone has a different budget, investing in superior products will ensure you only have to fix or build it once, and you won’t be disappointed.

2) Product Choices:

Using inferior products, such as those found at “Big Box Stores,” will almost always result in an unwanted outcome, and eventually, you will need to redo or replace something much faster than a quality-built product. It is also essential to consider the knowledge of the salesperson who aids you in the buying process, which can be one of the most challenging things when shopping at big stores.

3) Vendors:

Going the route of quality vendors, sourced and handled by a quality contractor, will always leave you feeling satisfied and make sure you are getting your money’s worth. However, it is vital to note that every contractor charges differently, and some stick to the old adage of “the going rate.”

4) Subs and Quoting:

When it comes to labor and sub-contractor charges, beware of “cheap” contractors and underbidding ones, as the price will often reflect the service you get. While it is possible to find a stellar contractor who works cheaply, it is rare, and it is best to get two quotes and find a contractor that listens to you and your needs. On the other hand, beware of unrealistic prices, as sub-contractors may give you a “hail Mary” quote, overcharging for the project.

A reputable and quality contractor who knows their “numbers” will charge a fair percentage, which is typically referred to as a Profit Margin. This is a little padding added on top of the cost for the entire project, and it is standard procedure to pay for overhead and company bills.

5) Examples:

Now, let’s get to Construction pricing examples. What do projects typically cost? To answer this as best we can, we will base this off the standard remodel or renovation and construction cost, based on current times and markets.

Full-blown kitchen renovations with all new parts and pieces, not including opening walls and any other special requests, will typically run about 40-80k in the Northeast, specifically Massachusetts. A full-scale bathroom remodel on a first floor with standard fixtures and some tilework, etc., should run around 25-45k.

A normal-sized addition to the home can generally cost around 100-150k, depending on material choices, site difficulties, and sizes. Lastly, in this current market, a floor price of 450k is a good starting point for a home 1200sqft – 2400sqft with basic but nice finishes. Of course, land prices will affect this cost as well.

6) Final Thoughts:

We hope this detailed post helps you with your buying decisions and gives you an idea of what to expect and what to watch out for. We urge you to reach out to us at any time to ask any questions and help you on your next big or small project!