Owner-Builder? It's a Do It Yourselfer!

UBuildIt started in the late 1980's and is commonly used in the home building industry today. An Owner/Builder is someone just like you who has chosen to manage their own home building or remodeling project without the use of a General Contractor. In doing so, they assume the entire Project Management responsibility for their dream home. What does it really mean to "assume the entire Project Management responsibility?" If you choose to become an owner/builder, you are your own Project manager and are responsible for:

1. Working with designer or architect to finalize the plans
2. Obtaining construction financing
3. All tax, insurance and safety issues relating to your subcontractors
4. Working with your local municipality to file permitting and engineering paperwork
5. Finding, evaluating and hiring all subcontractors and suppliers needed for your project
6. Issuing, reviewing and accepting bids for the different trades needed
7. Scheduling all trades when needed and in a timely manner
8. Managing the construction budget to remain within the limits set by your lender
9. Paying subs and suppliers
10. Daily oversight of the project including signing off on the work done by subcontractors

Being a Project manager, you assume the legal, financial and daily oversight responsibilities for the building or remodeling of you dream home. You may choose to do part of the actual work on your home but that is not a requirement. So what are the benefits to being your own Project Manager?

• Cost Savings - Acting as your own Project Manager means more of your construction dollars go directly to labor and materials instead of contractor fees and overhead. Many owner/builders can save from 15- 30% depending on their project.
• Instant Equity - By being your own Project Manager, your time and effort results in instant equity the day you move in.

"We had our one-story bungalow converted to a two-story English Tudor. We spent under $200,000 on the remodel through UBuildIt (one builder wanted over $300,000 to do it). Now our "new" old home with a captured view appraises for $590,000. Considering we bought it for $225,000, we have $165,000 in new equity for our remodeling efforts and UBuildIt helped us save more than $100,000 by not going with a contractor."- Mark and Katie, Engineer

• Pride - You will have the pride of building the home you want, the way you want.

"I catch myself many times sitting in a room just staring and thinking "WOW! I did this"- Erica, 29, social worker

Is it right for you? Today, one in 10 custom homes is built by an Owner/Builder. There are some great benefits and some new responsibilities associated with becoming an owner/builder, so how do you know if being an owner/builder is right decision for you? Take a few minutes and ask yourself the following questions:

1. Do you have the time available to give daily oversight to the project including being on the job site every day?
2. Are you the type of person who is organized and can keep many balls in the air at one time?
3. Do you know what trades need to scheduled and in what sequence?
4. Do you have basic knowledge of construction to determine if the subs and suppliers have the done the job you need them to do?
5. Is managing the construction budget a strength for you?

Building a home may be the single most expensive undertaking of your life. Being the Project Manager for the job can be immensely rewarding, both financially and emotionally. If you decide it is important for you to do this but are unsure that all of your skills are up to it, contact your local UBuildIt office and they can help you through every step of the process.

"Working with UBuildIt really paid off. We benefited from their strong business relationships by receiving more favorable financing terms and supplier discounts, and we were linked with high quality, highly skilled subcontractors. UBuildIt reduced our risks considerably."- Bob and Sally, retired