How much more expensive is a project manager

BungayBound

Hi all,

We are in the process of buying our first home and it is a fixer upper, nothing structural, just bathrooms, plastering, flooring, decorating and some repairs to brickwork, roof and the heating system. To complicate matters, we live abroad and will do for the entire renovation (with regular extended visits).

I am considering hiring a contractor to oversee the entire renovation but I have no idea how much more expensive this will be compared to project managing it myself. I know that getting a contractor to do it will mean that it is done MUCH quicker (months versus years) and presumably with less stress but I wanted to get an idea of the cost for this.

I realise that this is a bit of a "how long is a piece of string" question, but I guess I am looking for a percentage, is it 10%, 20% more? I estimate if I was to arrange the work myself it would come in around 35k.

I appreciate any guidance you all can give!

Thanks.

daveyjp

About 10%.

111KAB

Not wishing to dispute daveyjp figure but we generally look at a 20% profit margin on small scale domestic work. Really depends on where it is, how we will be paid, if we are busy, who it is for etc etc. A 10% margin doesn't really leave enough in it for error plus with you being out of the country this could creat delays (waiting for instructions) or even disputes if brief wrongly interpreted.
If you don't want to be burdened with this extra cost you might consider appointing a UK based project manager who could oversee the work (part time) for you. This may be more economical and be less stressful.

BungayBound

Thanks for the replies.

We would be looking to employ a UK based firm who would handle the entire renovation for us. We would be paying 30% upfront with the balance paid in full on completion. The house is in Suffolk. We would be at the property regularly and have family in the area who are also willing to assist us so I am hoping communication/instructions will not be too much of an issue.

Tucker

It depends how efficiently you can manage it.

I would say the savings can be much higher. I got quotes for my extension and built using individual tradesmen and saved over 40% on what I was quoted.

I spent time bartering and getting the best deals on materials and price matched different merchants. A contractor will generally use the one they always use and just pass on the cost.

I also paid tradesmen on day rates as I was buying the materials.

More effort, but greater savings, however, very difficult to do from such a distance!!

BungayBound

Thanks Tucker. I am pretty efficient at these sorts of things but the distance will frustrate me. That is what I am trying to weigh up, how much is my time and energy worth! I have no doubt I can do it, but if the savings are only 20% then I would rather pay to have someone else do it quicker.

I guess the next step is to get some quotes and compare it to what I think I can do it for.

111KAB

I do not know the Suffolk area but would have thought a general domestic contractor reasonably easy to find if you don't mind waiting a while for the firm to drop on the job. Tucker's 40% is probably the top limit - whilst I said 20% for us that assumes (just one example) that say we wouldn't shop around for the bathroom suite - we would just order what you specified and charge accordingly whereas if you, or another, project managed you could trawl the net etc to get the best prices - we have not time to do that - he says as he adds to this thread!

BungayBound

I do have someone in mind for the job and have recommendations from family in the area so I should be able to get someone for the job. And I am more than happy to trawl the internet from here!