Becoming an owner-builder offers numerous benefits, from cost savings to complete control over your home’s construction. With a Tamlin prefabricated house package, you’ll receive the essential support needed to reach the lock-up stage. This makes the owner-builder journey more accessible and manageable, especially if it’s your first time. Before embarking on this rewarding path, consider the following advantages and essential questions to ask yourself in order to ensure it’s the right choice for you.
Advantages of Becoming an Owner-Builder
Cost Savings
One of the primary advantages of becoming an owner-builder is the potential for significant cost savings. The first cost benefit that often comes to mind is that whatever tasks you can perform yourself as a DIY owner-builder will save you the cost of wages.
By managing the project yourself, you can avoid the markup that general contractors typically add on to the cost of labor and materials. Depending on your location, especially if you are building in a remote area, the cost of markups can easily be 10-20 percent or more of your budget.
Control Over Planning
One of the biggest benefits of being an owner-builder is that you can control who is involved as part of your “team” and how the project moves forward at each stage. Having the right team is critical for success. If you can put together the right team for your home design, products and installation, everyone can work toward your goal.
Too many times we have heard of projects that stall or take months (even years) to just get to planning only to find out that the projected costs are too high and the planning process has to start all over again. This can be extremely frustrating, time consuming and expensive.
Customization
As an owner-builder, you have complete control over every aspect of the construction process, from scheduling work to ensuring that the final product aligns with your vision. You also have the freedom to customize every detail of your home to meet your specific needs and preferences, ensuring that the finished product is truly unique. Once you have reached the lock-up or dry-in stage of construction, you can work at your own pace and budget to complete your home. You can also spend the time you need to select your preferred building products, and customize the home the way you want.
Sense of Accomplishment
Building your own home can be an immensely rewarding learning experience, providing you with valuable skills and knowledge in construction and project management. The personal satisfaction and pride that come from completing your own home can be unparalleled, offering a deep sense of accomplishment. Owner builders often mention that their home renovation experience and our house package support allowed them to be successful.
7 Questions to Ask Yourself Before Becoming an Owner-Builder
1. Will My Financial Institution Allow Me To Build My Own Home?
If you are financing the build through a bank or other lending institution you will need to check with them on their loan criteria. They may require that you have a licensed general contractor build your home. Some institutions may allow you to build your own home but with different requirements than a traditional build. Each financial institution in Canada and the USA has varying criteria for building loans, so it’s essential to understand their specific terms and conditions before proceeding as an owner-builder.
2. Do I Have The Time To Do This?
Building a home can consume hundreds of hours and will vary depending on the project’s scale, your use of sub -trades, and your experience. Some clients prefer to manage the trades themselves, while others actively participate in construction tasks. Consider your time availability, factoring in work commitments or retirement, and your desired move-in date. For example, one of our past clients changed their work hours to four ten-hour days and then had an extended weekend to work on their home. Other clients have taken time off work, scheduled certain tasks around their time off in the summer, or waited until they retired to have the time to build their own homes.
Everyone’s situation is different and you will know best how to work a house-build into your life. If you have owned your lot for a while and you have slowly prepared the site for building, many of our clients continue that “at your own pace” trend but use our house package system to get them to lock-up quickly. Once weathertight you can continue construction at your own pace.
3. How Much Of The Work Am I Prepared To Do Myself?
You can manage the project yourself by acting as your own Project Manager without doing any of the labor. However, if you enjoy the building process, you can handle as much of the labor as you want. You’ll need to hire licensed trades for work that requires permits, such as electrical and plumbing tasks. You will also have to follow local building guidelines and inspections as required. Hiring trades that supply and install products (like drywallers and roofers) can save time and effort. Tamlin can guide you on what tasks you can do yourself and which to hire professionals for.
4. How Much Will I Really Save?
Consider what your time is worth. If your job allows you to earn more than the savings from being an owner-builder, hiring a general contractor might be more beneficial. You also need to consider the cost of living while you are building and factor that into your overall cost. Some of our owner-builders have lived in trailers on-site to save time and money while building their home others have rented property within very close proximity of the site. Owner-builders who have done their research and decided that they want to build will save money, but just how much will depend on each individual build.
5. What Insurance Do I Need To Have In Place Before I Build?
You will typically need a COC (Course of Construction) insurance policy, which covers the project from the foundation stage until occupancy, at which point you would switch to regular homeowners insurance. There may be other insurance requirements specific to the building area or your financial institution, and we recommend that you check all these out prior to starting your build. It is also your responsibility to make sure that any trades you hire have the appropriate workers’ compensation and commercial insurance required by your area.
6. What About Permits?
You will need the usual permits from your local building department when building a home, as well as inspections at various stages. While Tamlin will take care of all of the permit plans, it is a good idea for you to proactively check if anything is required by the permit department from you as an owner-builder. For example, in British Columbia, Canada there is a 2-5-10 government home warranty program in place. This requires owner-builders to take and pass a proficiency test prior to being issued a building permit. For our BC clients considering this option, we recommend ownerbuildertraining.com, which offers a two-day intensive course to help prepare for this test. Anyone can take this course to help them prepare to be an owner-builder, and even if it isn’t mandated by region we recommend it to all of our clients.
7. This Sounds Like Something I Might Like To Do But Is There Anyone I Can Speak With To Get More Information?
Yes, you can talk to any of our owner-builder experts here at Tamlin! We are happy to discuss the pros and cons of being an owner-builder with you. We can also put you in touch with some of our past owner-builder clients who are happy to talk to you about their experiences. We have owner-builders in both Canada and the USA and would put you in touch with someone as close to your location as possible.
All photos featured are of owner-built Tamlin homes in Canada and the USA.
Start Your Journey to Becoming an Owner-Builder
Becoming an owner-builder can be a rewarding and cost-effective way to create your dream home. With the right planning, resources, and support from Tamlin Homes, you can navigate the complexities of the construction process and achieve a successful build. Remember to thoroughly research, prepare for necessary permits and inspections, and consider your time and financial commitments to the project. By taking these steps, you can ensure a smooth and fulfilling journey as an owner-builder, creating a home that truly reflects your vision and needs.
