If you`re thinking about building your own home or doing a major remodel, you`ve probably wondered if you should act as your own general contractor (GC). While there are some benefits to acting as your own GC, it`s important to understand the amount of work and expertise required before taking on the role.
First and foremost, acting as your own GC means you`ll be responsible for managing the entire project. This includes hiring and managing subcontractors, obtaining permits and inspections, sourcing materials, and keeping track of the project timeline and budget. If you have experience in project management or construction, this can be an exciting challenge. However, if you`re new to the industry, it can quickly become overwhelming.
One of the biggest risks of acting as your own GC is the potential for cost overruns. Without experience estimating the cost of materials and labor, you may find yourself in over your head financially. Additionally, you may encounter unforeseen issues that require costly fixes. A GC with experience can anticipate and navigate these challenges, while a novice may struggle.
Another challenge of acting as your own GC is managing subcontractors. You`ll need to be able to identify and hire reliable subcontractors, negotiate pricing, and ensure that they deliver quality work on time. If you`re not familiar with the construction industry, it can be difficult to distinguish between good and bad subcontractors. A GC with a network of trusted subcontractors can help ensure that the work is completed to a high standard.
Perhaps the biggest benefit of acting as your own GC is the potential for cost savings. By cutting out the middleman, you can avoid paying a GC`s markup on labor and materials. However, this potential savings must be weighed against the additional work and expertise required.
In summary, acting as your own GC can be a rewarding challenge, but it`s not for everyone. To be successful, you`ll need experience in project management and construction, as well as the ability to manage subcontractors and navigate potential challenges. If you`re not confident in your abilities, it may be best to hire a professional GC to manage the project for you.