pricing prestige homes

[tonyjohn]

Evening all, would like to gather other sparks views on pricing large Victorian town houses in sort after areas in London worth 6m plus, I usually charge 200-250 per day in Kent for your average house adding a few days in case of problems or changes etc, I've been given the opportunity to price these prestige homes for very wealthy clients, I was thinking my usual 20% mark up on materials but unsure on my day rate charges, how high can I go without taking the **** to much?

 

[RyanCheetham]

Personally i dont adjust my rate regardless of peoples finances. I need to earn what i need to earn. Clients always get a good job for a fair price. In my mind its the only way to do business and be able to sleep at night

 

[applemac]

There tighter as they have more bills to pay!

 

[dan86]

Personally i dont adjust my rate regardless of peoples finances. I need to earn what i need to earn. Clients always get a good job for a fair price. In my mind its the only way to do business and be able to sleep at night

same as me. I don't think it's fair to penalise the better off.
an honest days work for an honest days pay

 

[monkeyelectric]

I just want an honest weeks pay for an honest days work

 

[mydigitalhome]

Agree with other comments two tier pricing will do you no favours with clients. May be able to offer your client extra services like network cabling for pc, tv and music distribution making the job even better.

 

[imago]

As with Ryan, I wouldn't alter my rate based on a customer's wealth or lack of it. That said, on those sort of jobs unless they're refits make sure you allow extra time and materials for making good. Cornicing, coving, wooden floors, rare tiles, very deep skirting, ornate arcitrave, expensive wallpaper etc etc etc will need to be replaced to at least the standard prior to your working on it. So if you couldn't see a joint before it won't be acceptable to see one after.

Working on that type of house it's essential to take quality pictures before and after of the areas you work in/on. You should also have detailed job descriptions detailing exactly what you will and won't be responsible for so that everyone's on the same page before the job starts.

It can be very rewarding work, or it can bite you on the backside. Which it is will depend on how prepared you are.

 

[smuggler]

ffs get the arm as far in as ya can if they have it share share share

 

[Elmer BeFuddled]

I just want an honest weeks pay for an honest days work

Well that ferks up my common statement that you pay peanuts and you get a monkey.

 

[odawire]

Evening all, would like to gather other sparks views on pricing large Victorian town houses in sort after areas in London worth 6m plus, I usually charge 200-250 per day in Kent for your average house adding a few days in case of problems or changes etc, I've been given the opportunity to price these prestige homes for very wealthy clients, I was thinking my usual 20% mark up on materials but unsure on my day rate charges, how high can I go without taking the **** to much?

Day rate would stay the same, but if your used to working on "normal" domestic then be warned that everything on the "high spec" end is bigger and I always charge more for these type of clients because you don't know what there gonna thow at you, some of the light fittings they turn up with are out of this world! I'm in the process of finishing off a job like this and all I got done in 1 day last week was putting up 2 lights.

 

[odawire]

Personally i dont adjust my rate regardless of peoples finances. I need to earn what i need to earn. Clients always get a good job for a fair price. In my mind its the only way to do business and be able to sleep at night

I agree with your basic view, but these people require a different level of service, there gonna take up a lot more of your time, so if giving a total price for the job finished you need to make sure you don't end up short changing yourself.

 

[Elmer BeFuddled]

I'd now go with the basic view that the government is clamping down on "plebs" and giving the top rate earners a tax rebate, so I'll take it off them.

(said by a man who used to pay the top rate tax and was glad to do so)

 

[RyanCheetham]

Personally i dont adjust my rate regardless of peoples finances. I need to earn what i need to earn. Clients always get a good job for a fair price. In my mind its the only way to do business and be able to sleep at night

I agree with your basic view, but these people require a different level of service, there gonna take up a lot more of your time, so if giving a total price for the job finished you need to make sure you don't end up short changing yourself.

Surely if you give every client your best work the money still adds up. Doing joe bloggs house with middle of the range materials and no fancy decor means the job will be done quicker than on a big fancy house. I would price the job on my regular rates allowing extra time for fancy fittings and making good.

 

[imago]

I agree with your basic view, but these people require a different level of service, there gonna take up a lot more of your time, so if giving a total price for the job finished you need to make sure you don't end up short changing yourself.

If you price the job up correctly then your rate stays the same. You wouldn't increase your rate for a rewire above that for a CU change, you account for the extra time at your normal rate.

 

[chilliwilly]

Yes, a fine house will require a higher spec of plastering, floorboarding, carpets fitting back, skirting boards, paintings and ornaments casing and protecting, chandeliers sheeting off and cleaning, and more time pulling in longer cable runs and cutting neatly into oak panels. And not forgetting heating management system, electric gates, garden lighting, cctv and security system, home network cabling system, and maybe a dist board feeding final circuits and or a consumer unit on each floor.

Unlike a standard back to back or 3 bed semi, where the occupants are on a mimimum wage and anything over £1600.00 is too much.

The last rewire/extension that I did on a fine house around 8 years ago, was a 3 bed semi within its own grounds converted into a 6 bed with en suites and a guest bathroom, when I finally finished it. The final bill was around £14000.00, twice the original ball part estimate that I quoted due to the amount of work and time it took to get the standard agreed. Despite them getting quotes of between £3500.00 - £5000.00, I ended up doing all their work on their other properties and warehouses that they owned. Then I was asked to do their air conditioning in their offices and new home as they had heard of heat pumps, and their potential efficiency. But that's another story.