Understanding the Alternatives:
Owner/Builder vs. Professional Building Consultant vs. General Contractor
Trying to save money out of pocket? Trying to reduce your mortgage payment? Are you organized? Do you pay attention to detail? Do you like to be in control? If you have answered yes to most of these questions then you are well on your way to being a great Owner/Builder. The skills you use in your daily job or even managing your family will have prepared you for managing your new home project. At the end of the project most Owner/Builders get a feeling of satisfaction that is hard to beat when they look at their newly completed home.
One of the obvious pluses of this option are that you don't have to pay someone else to manage your new home project. Right? Wrong! Your time is worth something, so if you are really busy and can be more productive and profitable with other activities, you may want to consider another option for building your own home. In any case, your involvement will help to save you money if you can do certain aspects of the job yourself or can be more directly involved in the oversight of the construction of your new home.
General Contractor vs. Professional Building Consultant
You can hire a General Contractor (GC) to manage your building project. In most cases the GC could be a remodeler with modular home construction experience. The completion of a modular home is similar in requirements to building an addition on a home. This individual will have the ability to monitor the jobsite, coordinate subcontractors, and oversee the quality of work. Most General Contractors have up to a 15% profit margin on top of their actual costs. This is based on the National Home Builders Association.
A large percentage of homebuyers considering a building project will have limited experience in such matters and may be more comfortable hiring a GC to assist them. With increasing insurance premiums and other related business expenses GC's fees are becoming expensive. This being said, people that desire to save 10% to 30% by acting as the Owner/Builder have another option to consider.
In the last five years a new industry has emerged, which is changing the way that many homebuyers view building their own home ‐ that of the Professional Building Consultant. Building Consultants have lower fees compared to GC.s and help homeowners manage their building project. Building consultants are not for everyone but motivated homebuyers that want to save some money, build equity and have more control of their building project are choosing building consultants to assist them. If you have questions about Building Consultants, would like a reference, or just want to understand the options better, your Express Modular Home Consultant is just a phone call away.