Do you have what it takes to be an Owner-builder?
Why owners make great builders
Could you really be an Owner-builder, save BIG, and maintain control of the build in order to build your dream home? If you are ready to build your dream home, you’ve probably already looked into all sorts of options for building. Congratulations on thinking outside the box and being open to a different way of doing things!
That’s why you’re here, right?
Building your dream home doesn’t have to be as complicated as it may seem. In this blog, we’ll explore how you can take control of the homebuilding process by self-contracting your own home! Not only will we teach you how this process can save you money, but it also allows you to have more agency and control over decisions regarding your home!
Although this might sound scary, I guarantee that by the end, you’ll be ready to take the next step towards owning the home of your dreams. Read on to learn how you can take the homebuilding process into your own hands!
What Is “Owner-Building”?
Also called self-contracting, owner-building is when the owner acts as the General Contractor (GC) to hire subcontractors (subs) to complete the build of their home. Many choose this route to save money and maintain control of the build and budget.
What Roles Do Owner-Builders Perform?
As acting GC, you will need to find, hire, and manage subcontractors, maintain a budget, and oversee construction. You do not have to build anything, unless you want to.
When it comes to building your own home instead of hiring builders, most people’s first thought is, “No way I could ever do that, even if I wanted to.” or “I don’t know the first thing about building a house!”
While these are completely reasonable concerns to have, I believe that anyone with enough willingness, determination, and savvy can be their own Owner-Builder. Let’s discuss whether owner-building is the right choice for you!
Should I be an Owner-Builder?
Owner-building is certainly a big task and it is not for everyone. As owner-builder, you will oversee EVERY aspect of building your dream home, from the floorplans to the finished product.
The last thing we want to do is encourage someone to owner-build if they are not likely to be successful. That’s not good for anybody!
You can eliminate yourself as a potential Owner-Builder if you answer “yes” to any of the following 4 questions:
Ask yourself:
- Do you or will you live farther than 1.5 hours from where you will build?
- Do you AND your partner BOTH have day jobs WITHOUT the flexibility to visit the site sometime during the workday for at least 30 minutes 2-3 times per week?
- Are you unwilling to learn and ask questions as you go, so you can make the best choices for your home and budget? (By the way, even with a builder, you’ll have to do this.)
- Will you need a construction loan AND is your credit score below 640? (If you don’t need a construction loan, your credit score will be a non-issue.)
If you answered “yes” to any of those questions, you might want to take some time to examine your priorities before you take on the task of building your own house. Although I believe that ANYONE can build their dream house with the right amount of effort, this is a task that requires you to be sharp and eager. Before you build, you want to take the necessary steps to make sure that you and your family are ready financially, physically, and mentally!
If you’re still reading, I’ll assume you answered “no” to the above questions. Congratulations! I am SO excited for you to begin your journey to building your own dream home.
However, I know you also may still be questioning your ability and qualifications to self-contract your home build. Let’s address the elephant in the room:
Imposter Syndrome
Even if you are in the right position to be an Owner-Builder, you may be feeling inadequate. You might wonder if it’s possible for you to learn everything you need to know to self-contract, and you may be unsure whether you are up to the task.
Can I let you in on a little secret? Everyone feels this way. Everyone!
Top-ranked surgeons, CEOs, and experts of all kinds have thoughts of not being good enough. We all have thoughts from time to time that we aren’t capable of accomplishing the tasks before us, or that someone else might be better suited for the job than us.
These thoughts are not only incredibly unhelpful, but they also aren’t true! Instead of letting self-doubt and insecurity hinder you from saving 25% on the home of your dreams, ask yourself:
“What would it take for me to do a great job?”
When you think about the process of building your home, approach it with the mindset that you CAN succeed!
Don’t Limit Yourself– You CAN be an owner-builder!
The conventional assumption people generally have is that builders are more knowledgeable, more experienced, and better able to handle the job of hiring and overseeing the construction of a home.
While this is partly true, keep in mind that builders often have many houses being built all at the same time. Your dream home will be one of many that your builder is working on at once– and chances are, your home is probably not at the top of the priority list.
When there are too many items to juggle, one is bound to fall.
Additionally, in an effort to streamline their process, your builder might limit your options for fixtures, appliances, flooring, countertops, and more. What does this mean for you?
- You won’t be able to get that freestanding tub you wanted
- You can’t get the microwave drawer you really wanted and adding it later will require a costly demo.
- If you didn’t want shoe molding on your baseboards, too bad. It’s a wrench in the highly streamlined process and therefore it can’t be done.
- You can’t have quartzite counters, you must choose one of the 3 granites your builder allows.
- Want a bidet? Your builder doesn’t have that as an option.
When you choose to build your home with a builder, you trade your agency in decision-making for their bottom line.
Imagine what your dream home could look like if you didn’t have to compromise or feel like you’re spending money on things you don’t even want.
How much less stressful would the building process be if everything didn’t feel out of your control?
Is Owner-Building Right for YOU?
We have created a FREE guide complete with a quiz to help you determine if you have what it takes to be a successful Owner-builder. This 38-page guide, shows you the process, skills needed, time needed, and answers your big questions, like, “Can I get a Construction Loan without a GC?” and “How much House can I get for my budget?”
Again, your role as an Owner-Builder is to find, hire, and manage subcontractors, maintain a budget, and oversee construction. You will use your knowledge and savvy to hire the best subs for the job. Then you’ll supervise as they turn your visions into a reality!
Building your own home may seem like a daunting task at first. However, with the right knowledge, resources, and time, you can build your own home!
Not only does owner-building save you a TON of money in the long run, but it also is incredibly empowering. Once you begin building your home, you realize that you are capable of taking your dreams into your own hands and making them into a reality. That is exciting!
Want more info about our Bootstrap Builders program – everything it includes and how it can help you navigate the home-building process? Click HERE.
Ready to start your journey? Join our Bootstrap Builders Program today and get one step closer to seeing your dream home become a reality!