If you are planning to build your own home or do some extensive on your existing home in Australia, why not consider doing it yourself? This premise may be overwhelming at first, but if you learn the ropes beforehand, it will surely become a fun-filled activity. The thing is owner-building is no longer a new concept in the Australian housing market. Once you decide to become build your kit homes, you will join the growing number of owner builders in the country.
You may ask what it takes to become a good owner builder. The simple answer is: skills and patience. If you are willing to devote hundreds of hours and if you have the patience to manage a group of tradesmen, you can complete your own kit homes in six months. However, is it worth the try? Of course, it will be, especially if you want to be in full control of the construction and wish to save at least 20% in costs.
Owner-building will never be popular in Australia if does not provide certain benefits to owner builders. The most common benefits you could get from building your own home rather than hiring someone to do it for you are:
Leaving the project to the hands of a general contractor or construction company has its benefits but owner-building as well. Arguably the most notable advantage you can get from leading the construction of your home is that it provides you a great sense of responsibility as you will be in complete control of the project. The only limitations you will have are your budget and your creativity. As long as you have the budget and imagination, your options will be almost limitless. You will be in control of people you will hire and work with. You will in control of the result of the construction because you will be the one to manage everything, from securing necessary documents and permits to choosing the materials and the people you will hire. Hence, when the project is done, you can confidently tell yourself that it was a product of your own sweat, imagination, and resources.
The amount of money you can save from owner-building depends on the level of participation you will have throughout the project. If you wish act as its general contractor, you can save at least 20% in construction costs. However, if you want to save more, aside from managing the project and organizing the tradies, you can be extra handy and do some of the work yourself. Needless to say, the more work you do for the project, the more savings you will get because you don’t have to pay yourself for the labor you have contributed.
Managing a significant project like home construction will surely place you out of your comfort zone. Managing the whole project and organizing the tradesmen you hire will surely force you to step up your project management skills. Since owner-building is no easy feat as you will face many problems along the way, you will be able to practice and improve your project management skills. In the end, you will benefit from it because you will become a better project manager and organizer, which can be very beneficial on your part in case you do owner-building again in the future or when you do property investments.
While becoming an owner builder in Australia is a complicated premise, the benefits you will get will surely outweigh the cons you will encounter along the way. If you are confident about your skills, don’t hesitate to start your own owner-building project. As they say: the benefits outweigh the challenges.