Journey of owner building.
Most people think the only way to build a house is to hire a contractor. Though this method works best for some people, this method wasn’t appealing to us. Thus began our journey as owner builders. If you embark upon the journey of owner building, it will help if you have some family or friends in the construction industry. We were blessed to have family in the construction industry to give us advice.
Below I have outlined a few benefits to building your own home.
- You can save money.
A typical builder’s profit can range from 18 to 20 percent of the
total cost of construction and land. Our house appraised for about 20 percent more than what we have in it. In a normal economy it would of been closer to 50 percent. In our area the housing market is down 30 percent. Still, we were delighted with a 20 percent savings.
- Have the home you want the way you want it.
By building your own home, you make all the decisions. With a contractor, you are usually on a tight time schedule and your product selection is limited. You may only receive a few day’s to make major decisions. We took our time, and researched most purchases. If we had went with a contractor and he had given us a few day’s to pick out hardwood, we would of been dissatisfied. After researching hardwood, we changed what type and style we initially wanted. We didn’t feel any pressure from a contractor to make a rush decision.
- You are not limited to certain vendors.
Most contractors limit you to using certain vendors that they have a relationship with. When building our home, we shopped around for value. We really wanted a farmhouse sink but it was going to be to costly. We watched Craigslist daily and was able to snag one for $300. We were able to get a upgrade sink for only a little more than what a standard sink would of cost. Being we were owner building, we could wait until we found exactly what we wanted.
- Learn exciting new skills.
You’ll be embarking on an exciting journey and one that will let your talents and creativity grow. By owner building, we gained lifelong skills, such as managing projects and budgeting. At times, it can be a challenge acting as your own contractor but looking back, I would do it again.
For additional information check out Owner Building