Builders profit on renovation query

[Russ Storer]

Sorry if this thread is in the wrong section.

I have owned a house for 4 years but due to personal reasons haven't had the time or money with which to get the full renovation project completed.

Currently the house is just a box, no heating, pipes, cables, ceilings etc.

I was wondering if there was a standard amount of profit that a builder likes to get out of a project.

It is an end terraced and the adjacent end terrace sold last year for close to £150,000.

The house would probably need around £30,000 spending on it for it to be habitable.

Has anyone else had to move a property on before seeing it's full potential?

 

[blup]

Google house prices to get an idea of property values for similar properties of a standard you would aim for, then you will have a better idea of what you can afford without making a loss or to achieve a profit. That is then a point of comparison against quotes you get.

Builders work in a marketplace like any other business and what they would like to make is different from what they actually can make in a competitive environment with changing costs and future uncertainties....

Blup

 

[^woody^]

I was wondering if there was a standard amount of profit that a builder likes to get out of a project.

That's not really a concern of the client, and you should not be thinking in those terms, else the moment you think he's making too much money the relationship goes downhill.

Get quotes for tbe job, and a rate by which toy can measure extra works, and stick to those.