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Started By
Message
Question for those who have GC'd their own home
Posted on 7/21/19 at 8:47 pm
Posted on 7/21/19 at 8:47 pm
How much did you save over going turn key?
Im really interested in possibly GC'ing myself
Im really interested in possibly GC'ing myself
10
Posted on 7/21/19 at 9:15 pm to slapahoe
Doing it now.
No idea how much I’m saving but I sure am spending a lot.
Glad I could be of help.
No idea how much I’m saving but I sure am spending a lot.
Glad I could be of help.
Posted on 7/21/19 at 9:22 pm to slapahoe
Don’t most contractors charge between 10-15%? My guess is that would be roughly your savings
Posted on 7/21/19 at 9:32 pm to slapahoe
Building right now
GCB wanted 10-15%
GCB wanted 10-15%
Posted on 7/21/19 at 9:49 pm to slapahoe
You’ll save about 10% give or take
Posted on 7/21/19 at 9:56 pm to slapahoe
Depends on what connections you have, how much time you can spend, if you’re doing any work yourself, etc.
A GC will generally charge you 10-15% or so. However, they get a lot of materials and labor at discount rates. Plus, they minimize the amount of rework and additional cost that may be necessary. It’s not as attractive as it first appears on paper.
A GC will generally charge you 10-15% or so. However, they get a lot of materials and labor at discount rates. Plus, they minimize the amount of rework and additional cost that may be necessary. It’s not as attractive as it first appears on paper.
Posted on 7/21/19 at 10:21 pm to LSUtigerME
That’s what I have heard 15-20%
But also heard that subs will sometime put you on back burner and push limits bc you aren’t their typical contractor.
But also heard that subs will sometime put you on back burner and push limits bc you aren’t their typical contractor.
Posted on 7/22/19 at 6:42 am to slapahoe
quote:
That’s what I have heard 15-20%
But also heard that subs will sometime put you on back burner and push limits bc y
You won’t save 20% doing it yourself. 8-12%is where you will land. You will absolutely be low man on the totem pole with any vendor who is worth a shite. It’s going to take you longer and you’re going to make more mistakes, you’re going to pay more for materials. But if you have the time, patience, and management skills you can save around 10%
Posted on 7/22/19 at 7:49 am to ItNeverRains
I’ve never felt like I was getting shite on by my subs. But all my subs were recommended, I didn’t go out and find anyone in the phone book.
I’m sure we are saving money but that “savings” is being put into various upgrades. If this wasn’t our forever home I could have cut $50k-$100k from this thing.
I’m sure we are saving money but that “savings” is being put into various upgrades. If this wasn’t our forever home I could have cut $50k-$100k from this thing.
Posted on 7/22/19 at 7:55 am to slapahoe
quote:
How much did you save over going turn key?
Did this and did a lot of the work. About 75%. Built in 1996, 2500+ Living, 6 months time, total cost was $54K Had a appraised right after. $156K
Posted on 7/22/19 at 7:59 am to ItNeverRains
quote:
You will absolutely be low man on the totem pole with any vendor who is worth a shite. It’s going to take you longer and you’re going to make more mistakes, you’re going to pay more for materials.
Exactly. You will be paying “retail” for everything since you are a one and done builder. A GC will have dozens of builds going on at a time and already have all his labor and materials suppliers lined up wholesale , you won’t. You’ll waste so much time shopping labor and materials.
Posted on 7/22/19 at 8:09 am to MikeBRLA
quote:This is true. I used to work in my family's GC business in the early days when it was small. The really good subs were always too busy with the larger GC contractors, so I was constantly managing the 2nd and 3rd tier subs, and let me tell you, they frick shite up that costs time and money to fix. It's a real pain in the arse. Unless you have the subs that are really good with owners that care about professionalism in their work, hire a quality GC.
Exactly. You will be paying “retail” for everything since you are a one and done builder. A GC will have dozens of builds going on at a time and already have all his labor and materials suppliers lined up wholesale , you won’t. You’ll waste so much time shopping labor and materials.
Posted on 7/22/19 at 8:14 am to MikeBRLA
OP, if you have connections with people in the trade, that will help. Biggest problem these days, the good subs have all the work they need and then some.
Also, time is money. The more time it takes to build, the more you will be paying on a construction loan. Keep that in mine.
Also, time is money. The more time it takes to build, the more you will be paying on a construction loan. Keep that in mine.
Posted on 7/22/19 at 8:24 am to fishfighter
I’m going to fight against this again.
All my subs work for the big builders in my area. And I’m getting 15% off building materials through the local lumber yard.
Yes, they might get more of a discount than that but you’re not paying retail.
All my subs work for the big builders in my area. And I’m getting 15% off building materials through the local lumber yard.
Yes, they might get more of a discount than that but you’re not paying retail.
Posted on 7/22/19 at 8:36 am to poochie
quote:
All my subs work for the big builders in my area. And I’m getting 15% off building materials through the local lumber yard.
Did the same.
Oh, the good thing about that is if you get a load of crap, they will come get it and bring new stuff of it you just need something out the blue, they will bring it to you.
This post was edited on 7/22/19 at 8:39 am
Posted on 7/22/19 at 9:44 am to slapahoe
I GC'ed myself and would do it again. I did some work myself, and did not have trouble with any of my subs. I got contractor pricing on all materials as well. My subs came recommended and I was able to verify their work before hiring them, which I would highly recommend.
I saved over 20% versus turn key, but like I said I did do some work myself....I was able to build a 30x30 metal building with the savings, as well arse upgraded a lot of things in the house, like taller ceilings, nicer countertops, etc.
I saved over 20% versus turn key, but like I said I did do some work myself....I was able to build a 30x30 metal building with the savings, as well arse upgraded a lot of things in the house, like taller ceilings, nicer countertops, etc.
This post was edited on 7/22/19 at 9:47 am
Posted on 7/22/19 at 9:58 am to slapahoe
quote:
How much did you save over going turn key?
$0.00
The 20-25% of GC savings went into better quality materials, fixtures, etc.
Any reputable subcontractor will have the same discounts as a GC for materials with the local supply stores. And the supply houses that we wanted to use all offered us contractor pricing when we told them we were self-contracting and would be placing large orders.
These days plenty of stuff can be ordered online for cheaper as well.
quote:
Im really interested in possibly GC'ing myself
Only do it if you have:
1. Patience and time - things will take longer because you can't be on-site all the time. You also need a job that will allow you to be flexible since you'll end up running to the building supply store, meeting with subs to get estimates, and taking well longer than hour lunches inspecting progress.
2. Persistence with lazy subs or an existing network of quality ones - We had previously renovated our other homes with a GC. And I'm quite knowledgeable about the process and had a good network of subs that for the most part could be left alone. I had one that I had to keep up with on daily calls/texts/etc. and that one was stressful enough. I couldn't imagine doing it for all of them.
This post was edited on 7/22/19 at 10:01 am
Posted on 7/22/19 at 1:42 pm to slapahoe
Op, do you have any experience in carpentry, construction, or project management? This is a pretty big factor.
Posted on 7/22/19 at 2:35 pm to poochie
quote:
I’m going to fight against this again. All my subs work for the big builders in my area. And I’m getting 15% off building materials through the local lumber yard. Yes, they might get more of a discount than that but you’re not paying retail.
I don't doubt this at all. Home Depot will do 10% just by asking, especially on a project this size. But you are correct builders get a much higher discount based on consistent volume from retailers.
With regards to subs, real estate is hyperlocal. I know nothing about Houma, La. In middle TN, you'd be SOL trying to find quality subs. You'd come out better paying a GC a flat fee just to have access to his contractors and secure construction loan.
Posted on 7/22/19 at 3:03 pm to poochie
quote:
Op, do you have any experience in carpentry, construction, or project management? This is a pretty big factor.
To me, that's the biggest thing you're paying a GC for....expertise. A good one will provide quality control on your project, ensuring that all subs perform to standards and that none are cutting corners. We had neither the spare time nor the construction/systems expertise to supervise the subs.
Often, a home is the largest purchase a person will make: don't be pennywise and pound foolish, and consider lost wages/productivity if you're having to take time off from your regular work in order to act as GC.
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