To Be or Not To Be Your Own General Contractor

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To Be or Not To Be Your Own General Contractor

Posted On : Feb-06-2012 | seen (490) times | Article Word Count : 636 |

Being your own general contractor could be a great way to save money. But there are a lot of factors to consider before you take the plunge.

Are you considering building your own house? Or thinking about supervising the people who do the actual work? It can be done but being your own general contractor is not an easy job. A general contractor is responsible for hiring the subcontractors, setting the schedules, coordinating with the inspectors and suppliers and buying supplies. You should weigh the pros and cons of saving money versus the time and energy it will take to coordinate everything yourself. You will need to be highly organized, detail-oriented and have a clear idea of what you want for your home. You do not need to know how to build a roof but you will need to know how to manage the crew that's building your roof.

There is no perfect science to constructing a home. Each job will encounter different problems and issues. Financing may also be difficult because a lender would want to see that the people doing the work are qualified profesionals. Another issue that might be faced is time. As a general contractor, you will need to be available when you are needed. This makes being a general contractor a full time job. Most people already have a full time job so time management can be extremely difficult. A good contractor usually visits the job site every day. Some experts disagree on how much money you actually save while acting as your own general contractor. Some claim that you can save as much as 40 percent of the cost of your home while others believe it is only 10 to 20 percent. The other thing to consider is that a licensed general contractor usually has an established relationship with suppliers and they pay less for materials.

Before you build anything, you will need to decide exactly what you want for your home. You should read books and look at floor plans. You might want to start a scrapbook with information and pictures that you want to include. Learning about the actual building process is essential. You should study up on the latest supplies and materials. You should also draw a plan of action for every process.

Next, you will need to research who to hire as a subcontracts. The internet is very helpful for this process. You can drive around neighborhoods and see who is performing the work. Most houses that are being built or renovated have the subcontractors signage on the property. Another way to research subcontracting companies is by referrals. Ask people you know who they recommend using and their experience with that company. Once you have compiled a list of companies for each area of work you will need to call and get pricing. Find out how much each company will charge to complete the job.

After you have your final estimates its time to shop for financing. As stated earlier, it might be a little more difficult since you are acting as your own general contractor. You might want to reassure your lender by considering hiring a construction general contractor under a management contract. For a flat fee, this person will help you with permits, hiring, estimates and getting the project completed on time. You will also need to choose between getting a loan for construction or your mortgage. There are advantages and disadvantages either way you go. You might find a loan that will cover both phases. Although not likely, it is still possible.

There are no guarantees when you act as your own general contractor. No matter how carefully you plan, things can and will go wrong. So, why do it? There's a chance to save some money, the opportunity to see the project from start to finish and the sense that you have accomplished something when you are finished.

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<h1>To Be or Not To Be Your Own General Contractor</h1> Author: <a href='http://www.articleseen.com/profile_Richard Milano.aspx'>Richard Milano</a> Are you considering building your own house? Or thinking about supervising the people who do the actual work? It can be done but being your own general contractor is not an easy job. A general contractor is responsible for hiring the subcontractors, setting the schedules, coordinating with the inspectors and suppliers and buying supplies. You should weigh the pros and cons of saving money versus the time and energy it will take to coordinate everything yourself. You will need to be highly organized, detail-oriented and have a clear idea of what you want for your home. You do not need to know how to build a roof but you will need to know how to manage the crew that's building your roof.

There is no perfect science to constructing a home. Each job will encounter different problems and issues. Financing may also be difficult because a lender would want to see that the people doing the work are qualified profesionals. Another issue that might be faced is time. As a general contractor, you will need to be available when you are needed. This makes being a general contractor a full time job. Most people already have a full time job so time management can be extremely difficult. A good contractor usually visits the job site every day. Some experts disagree on how much money you actually save while acting as your own general contractor. Some claim that you can save as much as 40 percent of the cost of your home while others believe it is only 10 to 20 percent. The other thing to consider is that a licensed general contractor usually has an established relationship with suppliers and they pay less for materials.

Before you build anything, you will need to decide exactly what you want for your home. You should read books and look at floor plans. You might want to start a scrapbook with information and pictures that you want to include. Learning about the actual building process is essential. You should study up on the latest supplies and materials. You should also draw a plan of action for every process.

Next, you will need to research who to hire as a subcontracts. The internet is very helpful for this process. You can drive around neighborhoods and see who is performing the work. Most houses that are being built or renovated have the subcontractors signage on the property. Another way to research subcontracting companies is by referrals. Ask people you know who they recommend using and their experience with that company. Once you have compiled a list of companies for each area of work you will need to call and get pricing. Find out how much each company will charge to complete the job.

After you have your final estimates its time to shop for financing. As stated earlier, it might be a little more difficult since you are acting as your own general contractor. You might want to reassure your lender by considering hiring a construction general contractor under a management contract. For a flat fee, this person will help you with permits, hiring, estimates and getting the project completed on time. You will also need to choose between getting a loan for construction or your mortgage. There are advantages and disadvantages either way you go. You might find a loan that will cover both phases. Although not likely, it is still possible.

There are no guarantees when you act as your own general contractor. No matter how carefully you plan, things can and will go wrong. So, why do it? There's a chance to save some money, the opportunity to see the project from start to finish and the sense that you have accomplished something when you are finished.About the Author: To know more about General Contractor Nashville please browse <a rel="nofollow" href="http://www.buildingcompanynumber7.com/">General Contractor Nashville</a>
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