Ratio of Labor Cost to Material Cost
I know overall costs vary widely depending on where you are in the country, but it seems like ratios would stay pretty much the same. I may be incorrect about that, so if I am, please let me know.
I just finished a renovation with the company I work for and we provided the majority of the labor for the project and bought all of that materials ourselves. The project budget ended up being 30% Sub Costs, 31% Materials, and 39% Labor. I subtracted soft costs, etc. for this analysis. The sub costs don't really play a role, but I'm interested to know what the members here think of my labor to materials ratio. It cost us $1.28 in labor for every $1.00 in materials. I think the labor was pretty high, but I don't know for sure. If there is a conclusion to be drawn, I would appreciate assistance from the membership.
Thanks,
Tyler