We are in the planning stages of constructing our new home and I was hoping to get some feedback from others who have chosen to be their own general contractor for the construction. Both my wife’s parents and my own parents chose to be their own GC and I was hoping we would be able to do the same.
1. Because you are viewed as a “one-shot” job, is it difficult to deal with subs?
2. How much, if any, were the general cost savings realized by being your own GC?
3. If you had the choice, would you do it again?
4. Any other advice would be greatly appreciated!
Thanks in advance,
Kory Kyzar
Edited 1/3/2004 11:47:07 PM ET by Kyzar1
Replies
post this over at breaktime where all the contractors are.
The best employee you can have but you wouldn't want him as a neighbor " He the shifty type"
Oh boy! You will get more of a response if you post over at Breaktime like Brownbag suggested, just be prepared for the responses.
My preciousssss, I wantsss my precioussss NOW.
Just in case you're still reading reply's in this forum.
1 - This can go either way. First thing I did after getting the plans was go to the lumbar yard (at least two) and get a take-off. When you drop-off or pick-up, ask for the name of a good framer (or other subs as well). After I interviewed the framer, I developed a good realtionship with him and he helped by recommending some subs to get the foundation in place.
On average, we requested no less than three bids per task. I think on heating and air, we ended up getting five bids.
2 - Savings for us (your mileage may vary) was about 12%.
3 - Would we do it again? If I had the time that I had back then, absolutely yes! My full-time job keeps me plenty busy these days, so it makes it more difficult. Although not impossible.
4 - Shoot me an e-mail if you have any other questions. There are a few books I would recommend you read several times before you get started.
d w c a s e y at y a h o o dot com
Sorry to put my e-mail like that, but those spammers are awefully clever these days.
Edited 1/7/2004 10:29:50 PM ET by DW
Hi,
My husband and I are in the process of finishing house plans and researching loans. We are wondering how to obtain a loan with us being the general contractor. Any advise? Also, I am very interested in hearing about the books you or anyone would recommend as there are several out there.
Thanks,
KG
A lot of the books I recommended were Taunton book (no, I don't work for Taunton):
The Complete Guide To Contracting Your Own HomeMcGuerty & LesterBetter Way Books - ISBN 1558704655HomeBuilding BasicsHaunTaunton - 1561581674Both of Sarah Susankas' Not So Big books (not thesolutions book).What part of the country do you live in? Taunton alsopublised "Builder’s Guide to Mixed Climates JosephLstiburek" and "Builder’s Guide to Cold ClimatesJoseph Lstiburek".All we did was go to the bank and instead of getting a loan for new home, you just get a construction loan. Some of the process is the same. They will check your credit, etc. to see how much home you can afford.You will need to have a plan set and a materials list from a draftsmen/architect prior to visiting the bank. The materials list simply describes what materials will be used in what part of the house. Type of foundation, flooring, exterior finish, interior finishes, etc.
There's not a whole lot you can do to get a loan other than find a bank willing to do it. Most banks won't give construction loans to people being their own GC, and there's nothing you can do to change their minds.
For banks that do write such loans, you'd be a more attractive prospect the more of your own money you have available. You definitely will have to own the land free and clear. Your credit rating has to be good, and your other debt really low. (If either is not true you really should not be getting into a project like this.) You have to be able to put a substantial chunk of your own money into the project, probably at least 20%. They will want a proper set of plans and will require the project to be appraised so they know what the home will be worth when the project is done.
You will have to show proof of insurance to the bank, and probably list them as a named insured.
During the project, the bank will send their own inspectors to verify that construction is constantly progressing on the schedule you gave them. You will have to provide proof of building permit, all the inspections, and, before converting to a mortgage, the certificate of occupancy.
My DH and I have saved a lot of money but we have spent a lot of time interviewing and finding people to work our job. If you both have full time jobs I would think very carefully about it.
Man it will drive you nuts, but in the end you will save a ton of money and it will be done right (sort of). Be prepared for the dry wall guys to shoot nails through both plumbing and electrical that the plumber and electrician forgot to install metal nail plates for. The carpet guys will show up drunk or worse. The granite guy will overcharge you(but it will still be cheaper than the home center). Do not even get me started on the HVAC guy...The mud guys will get mud on everything and the concrete guy will mix to much water to make it eisier to pour, might forget the vb or the steel mesh (or try to insist that chicken wire is good enough).....A good GC will deal with all these issues for you and you only have to sue one person when it is over, other than that and if you have about three times as much time and money as you think you need, then yeah DIY. I started months ago and am lovin every minute of it. Oh yea, make sure you set aside money for marriage counseling, no matter what you think it is going to be needed. But hey thats just my opinion and have admitedly been driven over the edge by this house, Good luck