Why Would I Want To Remodel
My Own Home?
Everyone has their own personal reason why they choose to remodel their own home. Whether it is a vision to create something that is all your own, or an economic decision — UBuildIt will be by your side. Rest assured, being an owner-builder has it's advantages — savings & instant equity, control, satisfaction, and upgrades.
Savings & Instant Equity
The markup from traditional remodeling companies ranges from about 35% to 60%. Simple math shows that with the average contractor's 50% markup, you'll be paying them $25,000 on a $50,000 project... that's as much as $75,000 on a $150,000 project. By taking on the project yourself, you get to keep the majority of that money in your pocket where it belongs.
The appraisal on your home is based on market value for homes in your area. And since the vast majority of remodeling jobs are done by contractors, not individuals, they all have the contractor markup figured into their worth. That's good news for you because the appraiser doesn't know — and doesn't care — that you did it yourself. Presto! The home will appraise just as if you'd paid the contractor's markup, which means you'll find yourself instantly in an equity position!*
What you do with that equity is completely up to you. Some people upgrade their home's furnishings. Some people choose to just sit on it and let it grow and enjoy the feeling of knowing they've just added to their net worth. Regardless, the savings that come from remodeling your own home is clearly one of the major benefits of taking the project on yourself.
* Naturally, every situation is unique, and there are many variables involved. Not every home will have instant equity, and we make no guarantees to that end. But the vast majority of projects we work on do indeed cost less than they are appraised for, resulting in instant equity.