Choosing a Partner
BUILDING YOUR OWN HOME: EQUITY BUILT HOMES EXPLOITS WHAT MOST PAPER CONTRACTORS DON’T WANT YOU TO KNOW
Most people have thought of building their own home at some point in their lives. Some never act on this thought because they are scared, feel it’s not possible, or too expensive. Yet, there are others who inquire more and find out what most paper contractors do not want you to know. By working with Equity Built Homes and becoming a owner/manager, you can save thousands of dollars as opposed to hiring a General Contractor (GC).
What is an owner-manager? An owner-manager assumes the role of the GC. This involves building a construction budget, hiring subcontractors, purchasing materials, and overseeing the construction phase. How difficult is the process? At times, it can be very trying with competing interests. You will be responsible for working with the building department for permits, scheduling contractors, disbursing funds, etc. Anyone that says being an owner-manager is easy has never built a home. But how does Equity Built Homes differ from the competition?
When you choose to partner with Equity Built Homes you get a group of professionals that will guide, supervise and troubleshoot the entire process. Not to mention we equip you with the online resources to bid, schedule, financially run, communicate, and effectively complete your entire job from beginning to end.
We also partner with local and national suppliers to get you the very best pricing on all materials fro your home. This means anywhere from 10% off to wholesale pricing. All negotiated for our customers.
Building your own home will mean providing valuable equity. Typically, GC’s charge up to 20%-30% of the home’s proposed value as their fee. So, if someone acts as an owner-builder, they turn that 20%-30% into instant equity in their home. Of course, this equity is not free since you will be playing “contractor” in your spare time. But the work involved does not mean picking up a hammer. Instead together, it involves managing a group of people. How many jobs do you know pay $15,000-$100,000 for 12 months of part-time work?
A key ingredient in the process is the financing. Most construction lenders do not loan money to individuals with no experience in building. We provide the license and provide each customer with a licensed builder as their working partner. In general, there are three ways to finance the construction of your home:
Hire a GC
Hire an onsite project manager
Hire a construction management company
Each entity will charge a fee for their services, with the GC being the most expensive, followed by the onsite project manager, and finally the construction management company.
These three options offer varying pros and cons.
General contractors control the whole project (meaning less stress for you), but charge a large fee. They also make money off of their discounts given to them by suppliers and vendors.
Project managers can monitor the project during the day, but their fees can often take away from your potential equity vested interest other than a paycheck They tend to be less qualified as builders and have no direct suppliers. Thus affording you no real savings.
Construction management companies generally charge the smallest fee, but will not assume the smallest amount of responsibility. Pass on no discounts.
Analyzing each of these choices – and what you feel you can handle – will help you make a decision the choice should be very clear on your best option. Option D Equity Built Homes
Equity Built Homes provides the most complete partnership you could ever have. While working as your true partner we help control the project from start to finish. We truly put the “Equity” in Equity Built Homes not to mention the “Equity” in your pocket. While being an owner-builder is not the easiest way to build a home, it is the most profitable. As an owner-manager you control the materials that go into the home, which subcontractors are hired, and ultimately turn the savings into equity. The savings are not without cost – it takes time, effort, and the ability to manage others. But by working with Equity Built Homes you will earn equity, control the project, be backed by a team of professionals and together build a quality home for your family.