Building your own home, rather than hiring a general contractor, makes you the boss and gives you control over the two most important aspects of home construction: keeping costs down by managing the funds and monitoring the construction process.
Save money. Likely the main reason for being owner-builder is to save money. You can save anywhere from 15% to 30% or more of the construction price. That means for a $ 200,000 home, you can save from $ 30,000 to $ 60,000.
Just exactly how much you can save depends on what is the going market in your area and how well you do in hiring subcontractors and buying materials. That does not mean you should accept the lowest bids with your subcontractors.
Quality is more important than price, but you just might get a real "gem" of a subcontractor who does quality work and can offer you a good price.
As for buying materials, taking the time to shop around to see what's on sale such as tiles or wood flooring can save you big bucks.
Fund control. One of the main benefits in building your home yourself is that you pay directly to the subcontractors and suppliers so you know they are being paid and avoid any middle man. Also, you don't have to deal with contractor's mark-up.
Construction control. You acting as your own contractor will mean you are the boss. You control the construction progress. What is really great is you do not have to know everything about construction and you do not have to do any physical work. Your subcontractors provide the experience and knowledge to get the job done timely and professionally for you.
Networking. The hard part of being owner-builder could be the selection and management of your subcontractors. However, it does not have to be because you get to choose those you like that you can easily communicate with. To find them, you need to be patient and take the time to shop around and ask everybody – even strangers – for the names of good subcontractors.
Ask friends, real estate agents, building inspectors, home owners, and even drive through neighborhoods looking for houses being built. It will not hurt to stop, get out, and talk to construction crews during their lunch break.
You can begin by asking who are the best excavators, concrete contractors, and framers. Before you know it, you will have a selective number of subcontractors to get started. What a great way to get to know your community!
Consulting. The good news is that there is no need for you to build your home completely alone. You can hire a construction expert on a part-time basis. Even with the money you pay him, you can still save money.
To build a home on your own, you need some kind of guideline in order to plan ahead. This means at least buying the right kind of book on building a home of your own. Although it points the way, it does not solve the problems you will encounter. That is where a construction home expert can come in. He can help to smooth the ride.