GC's Markup in the bay area
The construction cost has been soaring in the last 3 years in the Bay area (I work in the corporate construction industry and our project management office is forecasting 10% fee escalation in all of the MEP trades in this year). In residential market, I learned that the national average GC's profit is ranging between 7-8% (excluding overhead) for new construction. I am wondering how much average GC's mark-up is in small residential market in the bay area in these days? In other words, how much do you expect to pay when you hire a GC for a full rehab project?
Your answer is appreciated.
Thank you