beastboy said:
Anyone have any experience with this?
HumorMe said:I would be the contractor but that is just me. I love doing that shit. It would help if you had more information and some good contacts on who is worth using for certain jobs. There are some real shitholes out there who are going to cut corners and take shortcuts. Make sure you know who you are dealing with if you plan on being the contractor. Good luck!
beastboy said:Do I contract it out myself or hire a builder. Not sure if the cost savings are worth the headaches. Anyone have any experience with this?
beastboy said:Do I contract it out myself or hire a builder. Not sure if the cost savings are worth the headaches. Anyone have any experience with this?
Rex said:
How much space do you have to work with?
How big are you planning on building the home sq ft wise?
How many stories?
spongebob said:
1. does your state allow you to contract yourself? example, in the state of texas, the homeowner, technically can not contract his own home. i say technically because, you can get someone to sign as your contractor and then you actually do the footwork. this person that signs can be someone like a brother-in-law. it helps though if you know a builder that would do it for you, but is not neccesary.
2. if you are gonna contract it, you need to check on the requirements about the land you'll build on. to get a construction loan, typically you must own the property out right. sometimes you can roll the remaining balance of the lot into your construction loan, but you will have to have a certain amount of equity. typically 5% of the total cost of the new home.
3. if you use a builder, sometimes you wont have to purchase the land first, the builder will just put that in with the construction loan. the advantage of this is that you avoid closing cost when you but the lot. the other way around that, is if you just buy the land with cash, there is no loan closing cost.
4.contracting it yourself will save you an average of 15% and maybe up to 25% if your willing to do some work yourself, which may include picking up debris from the jobsite or something more complicated like trim work inside if you know how. some counties allow you to do certain work. in one area you may be able to do the plumbing for example, not in another county. you have to check with your local county.
5. consider the time that you will be putting into this. construction usually last up to 6 months and maybe more, since you are inexperienced. people ive talked to say its a headache at times but they are glad they did it. your time is money. you must consider that.
6. so, with just sitting down and making phone calls you can save an average of 15%, no craft work on your part.
that would be,....150,000 home times 15% = 22,500$ in savings, so it would cost you 127,500 to build it.
look up self contracting on the net, and from hometime. they have how-to step by step guidlines to help you. good luck.
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