Am I totally nuts to be my own GC?
Am I completely nuts to consider acting as my own GC for building our new house? I dont have any construction experience but do have experience coordinating teams, planning, budgeting, negotiating and dealing with people...overall I would say I have a strong business sense. I fully understand that these skills do not qualify me to be a GC and thats why I would look to hire a GC to act in a consultative role. I would look for this individual to tell me which type of subs to hire, when to to schedule them and what they need to deliver, materials to purchase, assist with the permit and inspection processes, verify the subs are delivering on their commitments and verifying the quality of the work..basically Im paying him/her for their experience.
Long story short..I was going down he road of hiring a GC but started to get the feeling that the value added by a GC was not worth the price they were charging me. Dont get me wrong...I definitely understand the benefits of a GC but Im not sold on if those benefits are worth 20% to 30% of the overall project costs.
Here's what I expect:
* The project will prob take twice as long
* I will not be able to get the same price on subs as a full time, professional GC
* I will not be able to get the same price on materials as a full time, professional GC
* I will prob make mistakes that will eat in to my cost savings
* It will take up a lot of my time
The overall project is for a 3500 sq ft house in northern NJ. GC's in this area were bidding at $150 to $165 a sq ft. My guess is that I may be able to save somewhere in the range of $100k to $150k by acting as my own GC.
What do you guys/gals think?