Key Takeaways:
- Seize greater control over the cost to build a home as an Owner-builder
- Owner-builders are not subject to overly expensive building contractors
- Working as an Owner-builder affords complete control over the project
- Successful Owner-builders often consult with experienced construction experts
In Florida, property owners seeking to build are stymied by ever-increasing construction costs in an unresponsive construction market. Builders only make things tougher by offering one-sided contracts with high fees added on top of unreliable cost estimates that always prove to be too low.
How, then, can owners push back and make their projects more viable and equitable?
Simple: by significantly lowering those construction costs. And the secret to doing that…is being an Owner-Builder. Few people know about this legitimate option, so let’s start there.
What is Owner-Builder construction? Property owners have the right to remodel or construct a home that they will live in without having to hire an overly expensive builder to do it. An Owner-Builder takes advantage of this approach to maximize overall construction savings from the cost to build a home. They can maximize their savings by working with an owner-builder consultant who helps them navigate the process.
For most, this represents a significant amount of money—money that could be put to better use. The savings might be used to help offset the property’s purchase price or pay for upgrades to the project, thus increasing their home’s equity as well.
However, with reward comes risk. Owner-Builders enjoy complete control of the project, but they must legally take on all of the risks and responsibilities that a builder typically would. Maybe they have some experience in the construction industry. Maybe they just enjoy the process. Maybe they’ve simply done the math and concluded that the benefits outweigh the risks.
What is the cost to build a home? The answer to that question depends on many factors. As an owner-builder, you have more control over those factors.
The value is there. Indeed, the more expensive the project, the more substantial the potential cost savings. Still, Owner-Builder construction is about more than just meeting legal and insurance requirements. Owner-Builders are tasked with managing the entire construction process.
To be successful, they need help from someone with ethics, experience, contacts, and clout. Someone to protect them by mitigating the risks and helping handle their many, varied responsibilities. In short, Owner-Builders need someone they can TRUST, so they pay a fair cost to build a custom home.
As an Owner-Builder consultant, we build that TRUST by advocating for, and presenting clients with, the many choices they have, advising them on the differences between those choices, and guiding them through the entire construction process to see a project built that meets THEIR needs—whatever they may be.
We offer a complete set of services to assist owners—help that other builders don’t offer. We can be hired as an Owner’s Construction Manager and, if they choose, perform all of the same functions that a full-service builder would, including managing the actual construction of the project for them.
To help manage the costs to build a custom home, we can call on a deep network of industry-wide contacts—across ALL price points—developed over 25 years in SWFL: a deeper “bench” than any other firms have.
Owner-Builder construction offers owners the greatest potential upside. If they have the fortitude, NCHCC can help them realize that potential as their owner-builder consultant.
Summary: What This All Means for Owner-Builders
Owner-builders are usually well aware of the benefits that come with doing the project themselves. That being said, they must also understand the risks inherent to such an endeavour.
The potential cost savings when building a home as an owner-builder are considerable and the project is often ‘personal’ to the owner. For those who choose to build as owner-builders, the benefits go far beyond the potentially sizable savings commonly afforded to owner-builders.
From making decisions on everything from materials, design, and style, to managing contractors, timelines, expenses, and more, owner-builders must wear many hats. This is why owners choose to work with owner-builder consultants, and there is none better than NCHCC. Reach out for a free consultation before you start your new custom home project.
