I have been recommended 3 contractors by my designer & the percentage mark-up is different on one.
Renovators will calculate there costs differently.
1. Some just use a Mark up % depending upon the size of the renovation from 20% to 30%
2. Some use a Margin calculation % again with attention to the size of the project- same % but works out higher by a couple of points
3. Then some just calculate their material and labor costs and multiple by a factor 2 to 3 times
Some charge extra for supervision and labor and add their mark up to it.
Some contractors are so busy they just throw out higher quotes. If you bite on there quotes, they will make it happen, if not who cares they are already working anyway. Don't always take the lowest quote. Do your homework and get out and make the contractor work for your project.
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