The Benefits of Having a General Contractor Build Your New Home
In this video segment, the creator discusses their choice of hiring a general contractor instead of being an owner-builder for their house construction. They cite three primary reasons: financing challenges, lack of construction experience, and time constraints. The creator emphasizes the financial hurdle, revealing their inability to secure a construction loan as an owner-builder.
They acknowledge their limited construction expertise and express confidence that a seasoned general contractor would increase the project’s success likelihood. Additionally, busy schedules and time demands in overseeing the construction tasks contribute to their decision to avoid owner-builder status.
Further, the speaker explores the complexities of being an owner-builder, highlighting the need for continuous oversight of subcontractors and the challenges of coordinating their work. Personal limitations, such as long work hours, hinder the ability to be present daily at the construction site. Despite recognizing potential benefits in being more involved during retirement or assisting a child in building a house, the creator opts for a general contractor for the convenience of a single point of contact.
In the final segment, the speaker elaborates on the challenges of being an owner-builder, including finding and negotiating with multiple subcontractors, overseeing construction intricacies, and securing quality contractors and estimates. The creator concludes that choosing a general contractor aligns best with their situation, allowing them to focus on their work while returning home to witness construction progress. Overall, the video provides a comprehensive exploration of the decision-making process, considering financial constraints, lack of experience, and practical time limitations in selecting a general contractor over the owner-builder approach.