| Home |
| Search |
| Today's Posts |
|
#25
posted to rec.boats
|
|||
|
|||
Building your own home
Boater wrote:
Gene wrote: On Mon, 29 Dec 2008 12:03:49 -0500, "Reginald P. Smithers III, Esq." wrote: We are thinking about using this downturn in the housing market to build a new home, and acting as our own General Contractor. Has anyone in the group done this and do they have any words of advice? Yes, with three houses and two workshops. Not only was I General Contractor, I was also 50% of the labor. Your only real savings, in this market, will be sweat equity. You can buy cheaper than you can build.... you just have to find an equally desperate mortgagee and mortgagor.... or you could do it the seat equity route, if you have the cash, tools, and a desire to make it happen. No bank is going to let *you* (as their mortgagor) serve as General Contractor unless you hold a contractor's license. Advice? You're crazy to even attempt it...... uh, but wasn't I thinking about adding on to the workshop..... .... Oh, never mind...... It's an incredible burner of time. I had to do it because the general I hired to build a custom home in Northern Virginia turned out to be way overextended financially from previous projects, and could not line up the subs I wanted, and was teetering. Took the builder to court, had a civil jury trial, and won a settlement of more than $100,000. Never collected anything but the builder's license bond from the state. With the help of the lumberyard (who issued the construction bond) and my bank, I took over when the foundation had been laid and the slabs poured, hired a project manager to oversee the subs on salary and bonus, and completed the house just a hair over budget. I had to be on the site for about an hour at 6:30 AM just about every morning. Lumberyards don't issue construction bonds, you lying asshole. |
| Thread Tools | Search this Thread |
| Display Modes | |
|
|
Similar Threads
|
||||
| Thread | Forum | |||
| My old Home Sweet Home CVA-62 - 026220.jpg | Tall Ship Photos | |||
| Free to good home. Or any home. | General | |||
| Free to good home. Or any home. | General | |||
| Home boat building | General | |||
| Home, home on the range. | General | |||
Threaded Mode
