Anyone GC'd their own home?

[elenamaria]

Hi all,

My husband and I are looking to build an inexpensive home on our lot in the Seacrest area. We GC'd our home in NY ten years ago, and know the ups and downs of doing this--but also the cost savings. Because we both work from home (and we rent in BMB for 6 mos during the winter), our schedules are flexible enough to allow us to do this. HOWEVER, we don't know any subcontractors here, and we know that subs can make or break the whole thing.

So we've looked into the UBuildIt program, and plan to call BuildAssist, too, but has anyone worked with either of these companies?

Thanks for any insight you could provide!

Elena

 

[TooFarTampa]

Question, are you going to be able to be on site all the time? I GCed a couple of major remodels and the only reason it worked out well was because I was a stay at home mom. And of course, the subs. I had a couple of great ones. I enjoyed doing it very much because I am detail oriented and a big fan of design and seeing stuff pulled together, but I would never ever ever ever consider doing it long distance.

I had a friend who did a cost-plus contract (cost plus builder's fee of 20 percent I think) long distance, and it worked out pretty well for him, as he stayed on top of things and did not have any change orders. It seemed like he did save money this way. In this environment you might be able to get some builders to work with you on this.

 

[elenamaria]

TooFarTampa,

Thanks for your take on things...yes, we would remain in the area during the construction for that very reason. The cost-plus contract is an interesting one. I'll mention this to any builders we talk with.

 

[jlweathers]

i like the cost + contracts...but you certainly have to watch the "costs"...additionally, you can probably do better than cost + 20% in this environment

 

[Chickpea]

I would recommend you do this ONLY if you do the necessary homework. It is not only a matter of having the time to do this - you need to be well armed and well educated on permitting issues, inspections, processes, schedules, lead times, costs, local subs (and you are on an island here!!!).

If you are, then you may find it worth it BUT if you are not and you are interested in building relatively inexpensively, then it will be worth your time x 10 to hire a professional - you can still stay on top of things but let someone with necessary experience direct the job, keep subs on schedule, costs in line and basically look after your own interests.

Good luck!

 

[Pirate]

I think you can easily get a cost +8% GC right now.

 

[scooterbug44]

I'd say that since you have been your own GC before, you're more aware of the potential pitfalls, and might be okay, but I also worry that you aren't here full time and don't know the local contractors & subs.

Two caveats - no unions here and cost plus still leaves a lot of room for inflation if they're creative or change orders if your plans are not 100% or you change things.

 

[Yellow Hammer]

Cost and 8.....I hope it has not come to that. At 8% you lose money, your time is worth nothing, you would be better off sitting at home than exposing yourself to the liability.

 

[seaside2]

And unless you both have the patience of Job, you'll probably end up in divorce court.:shock:

 

[elenamaria]

Ha! You're so right. Thanks for everyone's input--this forum is invaluable!

ElenaMaria