Single family home electrical pricing

[dirk]

Help! I am still a little green at estimating Am I being competative, (in the ballpark to high or to low so to speak)? I gave a price off $11,000 on a 1 family colonial, the details are as follows:
two floors, four bedroom, 3 bath, electric stove and dryer, fully applianced kitchen, 300' long 200 Amp underground service, oil hot air heat with central air(2 zones)also a partially finished basement, minimal downlighting, 2 car garage, typical telephone and cable, owner supplies all the light fixtures and lamps.

[bphgravity]

To many variables go into construction estimates. Not knowing where the job will take place, the economy of the community, the costs of products in your region, profitability expectations of your company, and several other factors make this type of estimation very complex based on your information.

I have never wired a home for less than 5% of total cost of the home. This acts as a guideline.

[michael nye]

some people use the square footage method, nicer customs 5 or 6 a foot with a 40 dollar charge to provide, install recessed lights and the trim is provided in the lighting package, but you varibles and price sounded ok

[goldstar]

I just completed a residence in a wealthy community. The house is listed at about 6000 sq. ft. (usable space) and was sold for about $1.2 mil. (currently worth about $ 1.6 mil)

The base price started at around $17k for the electrical work but then the homeowners came onto the job site and added hi-hats, sound system wiring, undercabinet lighting, chandelier and lift, underground service in an overhead area, telephone and CATV (also underground). This was about another $16k in extras.

Brian, if you're getting 5% of the base price of the house I want to come and work in your area! I'm out here bidding against guys who are using Lightolier hi-hats, Sieman's breaker panels and 29 cent receptacles from Home Depot. It's a good thing I make money doing service upgrades, etc. If you plan to do new construction electrical work for builders you're merely keeping busy. Just my opinion !!

[pierre]

My first 3 years in business all I did was run, run, run and I made no, no, no money. I had met this contractor who was very wealthy and he kept on telling me to raise my prices. I kept telling him I would loose customers, and I could not afford to do that. He said I could not afford to work for 'those' customers. I finally was fed up, so I raised my prices.I raised them several times and now have a great client base. I try to pass this on to other contractors and we get into these crazy conversations. The bottom line is I work less than they do, and make more. I also can offer better service. They think I am spoiled. IDEALLY if we could all (in the same geographic areas) try to work more closely I bet the customer and the contractor would all be better off.

Pierre

[pierre]

Just to add to my previous post.
We have about 20 Starbucks coffee establishments in a 10 mile area here (20 miles north of NYC). They are expensive and they all charge the same amount. $1.89 for a small cup of coffee. Oh ya, you mix the cream and sugar yourself!!! Not to mention hundreds of other coffee places. I was in California recently and they have even more Starbucks, and the SAME PRICES!!!! Hmmmmm!!!

Pierre

[dirk]

Since I first posted this pricing question I have learned more about this project. The house will also have a well pump and a heated indoor jacuzzi, the basement will not be finished, there will be a speaker system throughout the home and approximately 10 down-lights and lighting in all the closets. The house is a little over 3000 square feet and located an hour north of Boston. I am thinking now that I will up the price to $14,600. Does anybody think this is a fair price for both me and the customer. Any advice is much appreciated

[ July 01, 2003, 08:22 AM: Message edited by: dirk ]

[jro]

It depends Dirk, if you are just out there giving ballpark prices, you are in trouble before you even start the job, you need to know how many manhours the job will take, this will tell you what part of the money is going for labor, you will also need a material takeoff, so you know how much money is going for materials, what about money for permits, temporary power, etc. 14k or 11k seems like a lot of money, but when you start paying out money to suppliers, electricians, city permits, etc. the money can go really fast. You don't want to end up paying out of your pocket when the project cash flow is depleted.

[electricmanscott]

Ok Dirk, are you an electrical contractor or are you having a house built and are checking prices? Your vague profile makes me ask. Anyway, I did a quick guesstimate and came up with $14,000.

[dirk]

Hello all and thanks for the advice. Yes I am an electrician but left the business and only do some small work out of the back of my truck here and there. I figured for both me and an apprentice(no overhead), 1 day for the service, 3/4 days for the rough, and 3/4 days for finish. I feel these hours are tight but accurate. Home owner buys all the lights and permit fee's, no temp service, The stock should be more than covered. I think I may be more on the high side than on the low side for just weekend work (but who wants to work for free). The price also seems to be within the 5 bucks a square foot method.