So, you want to get into your new dream home at the best price possible. Your alternative to going with a builder is to take on the general contractor role and build your own home. By assuming the role of the general contractor, you save the typical builder margin of 15-20% on your new home. Saving money on your new home is just one of the benefits of becoming an owner-builder so let’s go over a few of the others.
When you build your own home you get to choose where you build. Many builders also develop their own land and they limit your dream home location to one of their existing projects. When you take on the general contractor role you can buy a lot in an established community or you can purchase that beautiful farm property in the woods. You may also want to buy your dream vacation home lot to build your own home in the future when the economy improves.
Another advantage you have when you build your own home is the ability to choose who does the work. Maybe you have friends with special skills in plumbing, wiring, or trim carpentry. Maybe you have some skills that you would want to apply to save extra money on the project. Most builders won’t allow you to choose the subcontractors because they have established relationships and they are afraid you will select less than competent people.
When you build your own home you have the opportunity to create your dream from the plans you choose. Most production builders become efficient by limiting the number of plans that they will build. However, when you build your own home, you may decide to purchase a set of plans from an established company online. There are thousands and thousands of great home designs out there that you can buy for a few hundred dollars. Or if you desire, you can choose to have an architect design your home to your specific needs. In fact, you may already have an overall layout in your head for your new dream home.
One more benefit you get when you build your own home is the enormous sense of pride. You get the bragging rights because you created something that will last a lifetime! How cool would it be to tell your grandchildren that you built the family home. And if you decide you like building homes, you may decide to take on a new profession.
There are many very good established builders out there. Just remember, if you decide to go with an established builder to build your dream home, you will give up some of your freedom to choose. By choosing to build your own home, you get exactly what you want, at a great price.