How to cut costs on construction estimates?

Question

I recently got a few estimates from local contractors to add a expand my house. The estimates are all just out of my price range and Id rather not take out a loan. One of my friends who owned his own construction company (retired now at age 40) told me 60% of the cost of construction is the labor.

I can do some things myself, like putting up drywall, taping, plaster, painting, etc, etc.... What I cant do and dont know much about is the permits (im in a historical district), doing a foundation, the main plumbing, framing, etc. I can even do some copper plumbing myself, and even electrical work with the help of my brother who is an electrician.

So... where is the best way to cut costs? All of the construction guys that have given me estimates told me "you wont save much on this or that so we can just do it for you." and other fairy tale stories that sound good, but hey, I need to cut costs.

Any tips to get the price down... say 20% on a house expansion? Many thanks for any tips!

Answer 1

1'. request a material list and a break down of the estimate so you can see the cost. many contractors make a profit on materials, so take the list to lumberyards and d.i.y centers and see if you can beat the price. 2. do all clean up your self. you say you can rock, tape mud etc... so just hire out for the shell and exterior. get the necessary rough ins from plumbers,elec. & hvac. 3. once that's done, you can insulate and rock. at this point you have time on your side. finish the drywall and paint. if you need to, you can take a financial break (wait for tax returns, whatever) and hire out your finish work as the pocketbook allows. it'll be drawn out but, it's the best i have. good luck!

Answer 2

get your own permits, buy your own materials, and cut out as many people as you can. rent your own equitment that you need. contractors are out to make money. the more you can cut them the more you save !

Answer 3

cut out the sub you dont need and only hire subs you do need