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Prices for Electrical or Plumbing Work

6,636 Views | 52 Replies | Last: 11 mo ago by Guitarsoup
2wealfth Man
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AG
Tax advisor here; a significant chunk of my wealthiest clients these days are in the trades (electrical, plumbing, HVAC). They got ranches, lake houses, ski homes in Colorado; you name it. It is no joke that you can make some major coin doing this. Too many gender / racial studies majors out there.
htxag09
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AG
Not disagreeing with the premise. I know it's a great career path these days. But how many of these people have 401ks, etc.?

I mean we could easily have a boat, vacation homes, etc. Instead we have well funded retirements, college funds, rental property…

Again, I think they are very viable career paths. I think it's much smarter than someone getting an art history degree costing $100k. But, at the end of the day, my degree from A&M has been pretty invaluable and no way I'd be where I am without it.
southernskies
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I'm amazed that tradesmen do so well considering this is literally the "Information Age" where we can all look up how to fix something online. It's like we went backwards in terms of abilities - previously everyone had a basic sense of handy work and now ironically very few have that knack. Most problems don't require complex training for two years but I guess people have enough discretionary income to throw somebody $1k to fix their faucet.
Chipotlemonger
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I will say it seems that even with video resources available to us common folk, handy work around the home or cars can be much more complex nowadays than it used to be. Too many nuances and variation, plus the introduction of added complexities, makes even online video tutorials only helpful for part of the problem.
southernskies
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Yeah that is true. And sometimes you will only make the problem worse.
EMY92
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htxag09 said:

Not disagreeing with the premise. I know it's a great career path these days. But how many of these people have 401ks, etc.?

I mean we could easily have a boat, vacation homes, etc. Instead we have well funded retirements, college funds, rental property…

Again, I think they are very viable career paths. I think it's much smarter than someone getting an art history degree costing $100k. But, at the end of the day, my degree from A&M has been pretty invaluable and no way I'd be where I am without it.
I know a man who is a licensed master plumber in 5 states. He is the license holder for businesses in each of those states, but he does not own the businesses. Each of the businesses pay him a hefty salary to be their master plumber. Depending on the state, he may be required to visit the shop to review paperwork each month, but that is all he does.

He has a nice place in Florida and is for the most part retired, but is making 7 figures each year. He does have about a week of travel/work each month.
BenTheGoodAg
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AG
Does that mean he's basically incurring all the liability of the plumbing work performed by those businesses?

I mean, good for him for making a buck and all, but I feel like I'd want those companies employing some top-notch plumbers if I was going to be hands-off like that. Otherwise, one screw-up, and it could expose all of his licenses/businesses?
1988PA-Aggie
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In the trades, I can't pinpoint one specific trend of why more people don't do tasks themselves with all the resources out there?

When I do smaller tasks for people, it may be they don't have time, they don't have the tools, don't want to deal with the mess, the wife may not want the project to be done in small increments of completion, or they are just lazy...bottom line, spending the money is worth it to them. Fine with me.
EMY92
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AG
Not based on the contracts he has. If the company puts his license in jeopardy, it would be very costly.
southernskies
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Yeah I think the world now has just become so specialized that people are really good at one or a few things instead of decent at many things. The old saying, "Jack of all trades, master of none….but often times better than a master of one"
Jabin
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There's also the frustration factor - getting into a project and not getting it done correctly and quickly because you don't have the right tools and what you run into doesn't match the instructions or videos.

My dad was a history prof and would rarely, if ever, do any repairs. He had absolutely no interest in it. I have a good friend that's the same way. At times, when I get involved in a project, I get real frustrated too and at those times wonder if they might not be right.
nuclearnurse
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S
I learned long ago that I am not the handiest person. This means I pay a lot for jobs around the house. I've run into the professions charging large amounts for simple jobs. I've also tried the so called handyman services in BCS and had lackluster results. I'm hoping the next handyman from Ace can do my projects. They quoted $120/hr flat rates.
87IE
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AG

Quote:

I have had customers tell me to my face "why don't you get a real job" and "I bet you wish you'd gone to college, huh?"
I've only met you twice but I got the feeling you enjoy your job.

There are plenty of days when I'm stuck in my office and wish I could get out and about an not deal with the mundane BS.

If I'm right about you enjoying your job then you are way ahead of a lot of people.....

redsquirrelAG
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AG
Pricing themselves out of work?

You have no idea the costs of supplies and insurance and taxes and inflation across the board.

Stolen elections have consequences.
Jason_Roofer
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87IE said:


Quote:

I have had customers tell me to my face "why don't you get a real job" and "I bet you wish you'd gone to college, huh?"
I've only met you twice but I got the feeling you enjoy your job.

There are plenty of days when I'm stuck in my office and wish I could get out and about an not deal with the mundane BS.

If I'm right about you enjoying your job then you are way ahead of a lot of people.....



I do enjoy my job. I like helping people get problems fixed. Yes, I get paid for it, but what drives me to like it is people that appreciate the crew's work, or that their roof is fixed, or referring me out because things happened how I said they would happen. If I can focus on the 'little things' that matter to people, all the other stuff works out on it's own. It's not without it's frustrations and mundanity like sitting on the phone with the city to pull the required permit while the city figures out how to pull the required permit because Bob from accounting is on vacation and and today is Wednesday so he was in charge of permits and bringing doughnuts. Weird stuff like that.
Infinity Roofing - https://linqapp.com/jason_duke --- JasonDuke@InfinityRoofer.com --- https://infinityrooferjason.blogspot.com/
AggieGunslinger
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AG
Just got a bid to change a 40sf jack and Jill kids bath into a more modern bath. It wasn't super simple but wasn't huge either, replace the one piece tub insert with a tub tub and tile walls, move a vanity to a side wall, tie the sink drain into the tub drain, close off two doors, make a new one... 33k. Contractor is a friend we hang out with weekly, he was shocked when he got the plumbing bids. I was expecting 20k max.


I will be back on here this summer asking for advice to do most myself. I can handle the electrical but moving the vanity and sink I'll be new to me.
1988PA-Aggie
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Good friend of my wife has a bunch of kids and wants to create another bedroom for the oldest in the basement (she lives in south central PA, not an expensive area). Room exists of course, windows are there already (walk out basement), 10 foot ceilings. She wants to put in a small 5x7 bathroom with tiled shower so a fair amount of plumbing tying waste lines in. Also framing a closet, the bedroom walls, a few doors, and framing around HVAC ducting. Painting and flooring also.

$156,000. He said two weeks start to finish.

The GC wouldn't break down the pricing when she asked. I told her that is okay, say thanks, but no thanks. She got a second bid for $87k. I was guessing about $65K, the plumbing being a bit of a mystery to me what is involved?

It's not a great house in a great neighborhood and getting a 'nice house upcharge'. Obviously sometimes contractors just throw a huge price and think if they get the job, they'll make a ton of money.

But for someone like this woman (and husband), who know little about contracting and home improvement, they are completely blown away by the estimates thinking now that most GC's are crooks and/or greedy. Not sure what they are going to do as of now.
Guitarsoup
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AG
Had a quote to replace the water heater in my house with the cheapest/base level tank one one and it was $2k installed. The water heater itself was like $300.

I got the top of the line one that I could fit in the space and did it myself. Took a lot longer, but totally worth it.
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