Who is responsible for keeping your project on budget? It probably goes without saying but if you’re considering a home improvement project or remodel, you’re keenly interested in the cost.
The cost of any major (or even minor) home remodeling project is one of the biggest factors in the decision to proceed with it or postpone it. Then, right on the heels of that is the desire to keep your project moving forward on time and on budget. As an owner builder, I recommend two things:
1) An Owner Builder should understand the “on time and on budget” claim
2) Owner Builders should seek the help of a Home Building Coach
First; it’s almost a given that 99% of projects are not completed on time and on budget. That’s just not the way building goes. And the few times that they are? It’s quite likely that the mark-up in the bids were such that the profit to the builder was excessive.
Second; the advise to use a Home Building Coach is designed to give the owner builder much needed guidance to understand bids, pick the best ones, and manage the process when changes and exceptions come along. Because they will!
WHY THE HOMEBUILDING COACH IS IMPORTANT
As a coach, your building professional works alongside you to manage the entire process of planning and execution. The goal is really three-fold:
- Make your project more enjoyable
- Get more of what you want in your home
- Save you money along the way
All three of these goals overlap and result from proper expectations and proper management. An experienced industry professional (your coach) adds immeasurably to your journey. If you have unrealistic expectations, your experience will suffer. If you have no management system, you won’t succeed.
How Your Coach Saves You Money
You’re likely an owner builder for one main reason … to save money. Yet, alone, you risk making mistakes that cost you money and you risk falling out of budget which can have serious repercussions on your success. Here’s how your coach saves you money:
- The coach’s fees are usually a small fraction of the cost of a General Contractor
- Your coach will bring you a complete management system to keep on track
- The coach will help you pick the right subcontractors
- The coach will guide you to keeping the process moving forward
- Your coach will analyze the cost of potential changes
All this combined, you’ll be better equipped to assess the cost of your project as well as execute it in a way that keeps you as close to on budget as possible. Most coach’s are paid using a pre-set fee so their motivation is too keep your costs down, not inflated. This is an important difference from most General Contractors.
Home building and remodeling projects can be complicated but there is exceptional and experienced help out there. Seek it out.