Blue Collar Cost

It’s been a while since I added an entry to the Quantitative Philosophy section.  And in light of the recent glass door replacement debacle, as well as my growing experience with home-ownership in general, I have enough information now to present a new calculator: The Blue Collar Cost Estimator!

What is this calculator?  Well, ever notice how what would seem like an affordable project immediately becomes cost-prohibitive when requiring hired help?  So here’s how it works: for any home renovation/repair, input what you think would be the conservative estimate for the raw materials.  The calculator will then add the contractor’s up-charge and account for the cost of labor (which is substantial).  Here’s the formula:

Estimated Materials Cost * 1.45 * 4 = Final Cost

Here’s the logic.  The 1.45x multiplier seems, at least anecdotally, to be the materials’ up-charge.  The 4x multiplier seems to be the labor charge, which inexplicably scales directly with the initial cost of the materials.  I guess they figure the risk of damage warrants greater skill/care?  Dunno.

But that’s it.  Nice and simple.  For calibration, I tested two expenses.  The latest was the door replacement, which I estimated would have a materials cost of $1000.   1000*1.45*4=$5800, the exact amount of the final cost.  We also had a garage door spring replaced, which I estimated at $120.  120*1.45*4=$696, which is pretty close to the $700-ish final cost we paid.

There you have it: the scaling cost of blue collar labor.  Glad I figured out how to install laminate flooring.  The last room I did would have cost us almost $2500.  So try to be handy–your wallet depends on it.

–Simon