When you are financing a big construction project, paying a general contractor will cost you a significant amount of money. The mean hourly wage for a general contractor is approximately $45.14. You may be tempted to eliminate the position and take over the responsibilities yourself. Although a few people manage to successfully pull off this maneuver, many people struggle with the job. In most instances, you should not be your own general contractor.
If you have a full-time job, you will have difficulty acting as your own general contractor. Your construction duties include untold hours of planning. You will need to hire subcontractors, estimate labor and material costs, procure permits, schedule inspections, manage payroll, and pay invoices. If something goes wrong on the site, you will have to drop everything and go straighten things out. In other words, unless you have someone helping you with the duties or you are self-employed, you simply will not have the time or flexibility to manage your project successfully.
Although you will be saving the cost of a contractor, you will be responsible for all cost overruns. No matter how carefully you plan your project, you will run into some unexpected expenses. Unless you are experienced in construction, you may underestimate the cost of materials and labor as well as forget to factor in some expenses such as appliances, fixtures, and flooring. A general contractor estimates expenses by using his hard-earned expertise. You will find the process much more difficult. If you do decide to tackle the job, you will need to have every possible item listed on your building plans. Make sure you have firm figures for all expenses so that when you do have a cost overrun, you will be able to pinpoint the problem immediately.
If you need to finance the construction, your lender may be reluctant to loan you money if you do not hire a professional general contractor. After all, your skills in the area will be unproven, and banks always want to minimize risk.
In almost every instance, paying for a professional contractor is the best way to go even though their services are expensive. Unless you have the time and expertise to devote to your project, the savings will be devoured by the extra time and money it takes to finish your construction. Expert help costs money, but your sanity is worth something as well. Save yourself months of grief and hire a professional.
For professional construction help, contact a company such as Americom Construction Co Inc.Share