Here's a thought from Be Your Own House Contractor
What is the actual cost to build a house?
About 75 percent of what new homes sell for in your area.
This is where the author gets his opinion (which has been proven to be fairly accurate through many years he's advised people) that you can save 25% on building your own house by being the general contractor. Here's a quote from his experience:
Back in the 70's, a friend who was a home designer suggested that I build my own home. I told him he was crazy, that I didn't know anything about building...I was skeptical, but I tried it. I saved more than 25 percent, and it was so easy that I changed careers.
Want to know more? You can win a free copy of Be Your Own House Contractor. Here's how it works:
1. Leave a comment below -- any comment.
2. Sometime tomorrow, I'll stop by the post, stop the submissions, and name the winner.
3. It will be that person's responsibility to check back to see they are a winner and then email me their contact information.
4. I'll send all the winners their books in one mass mailing going out the second week in September.
A few rules for these giveaways:
1. You can not win more than one prize.
2. I will be the complete and final judge.
3. Legal disclaimer: I can not guarantee safe delivery of the items. I'll send them via US Mail, so it's likely they'll be fine, but I can't control it and won't be held accountable if the mail system messes up.
4. If you win something and do not contact me within a week of winning, I reserve the right to give your prize away to another winner. Note again: I won't track down the winners -- it's your responsibility to come back and see if you won.
Good luck! Post a comment below for a chance to win this book!
First!
Posted by: Ryan | August 07, 2007 at 06:38 AM
Here's for another chance at the book.
Posted by: Scott Moonen | August 07, 2007 at 07:29 AM
One more try.
Posted by: Goose | August 07, 2007 at 07:49 AM
This is good timing as the wife and I just decided that when we're ready to move in just over a year, that we want to build something as opposed to by used.
Posted by: Chad D | August 07, 2007 at 07:53 AM
One more try before leaving the state...
Posted by: Blaine Moore | August 07, 2007 at 08:06 AM
I'd love a chance to win the book and learn about building my own home.
Posted by: Chris | August 07, 2007 at 08:07 AM
"Any Comment" =)
Posted by: Armel | August 07, 2007 at 08:11 AM
Me?
Posted by: Scott Kustes | August 07, 2007 at 08:23 AM
I never win anything...
Posted by: JH | August 07, 2007 at 08:26 AM
Count me in
Posted by: Phil | August 07, 2007 at 08:47 AM
Although not a new concept, this is news to me!
Posted by: S | August 07, 2007 at 08:57 AM
really? their margins are that fat? I would have thought with the current overstock they would be much slimmer. very eye opening.
Posted by: JM | August 07, 2007 at 09:19 AM
How much longer does it take to build the house if you are your own contractor?
Posted by: Brian | August 07, 2007 at 09:19 AM
From the 25% what does the contractor take home for profit, and yes I'm trying again.
Posted by: Richard | August 07, 2007 at 09:29 AM
Pick me pick me pick me!
Posted by: Yang Wei | August 07, 2007 at 09:30 AM
I hope I win a copy of this book!
Posted by: Barbara | August 07, 2007 at 09:59 AM
Count me in!
Posted by: Seth | August 07, 2007 at 10:01 AM
Richard, to answer your question, in the earlier interview post (http://www.freemoneyfinance.com/2007/08/interview-wit-1.html) it said 12.5% builder profit, 12.5% builder overhead
Posted by: juanny | August 07, 2007 at 10:17 AM
My parents build our house when I was still in middle school. Not only was my dad the designer and contractor, but the extended family and neighbors actually helped build most of the house. It took 2 years to completely finish, but during the framing we always had relatives (they lived close by) and neighbors stopping by to check on the work and hammer a few nails. We did hire a few professionals for things like electrical and drywall, just because we didn't want to deal with it.
Posted by: Jon | August 07, 2007 at 10:29 AM
Giving it another shot!
Posted by: Cam | August 07, 2007 at 10:32 AM
Sounds interesting.
Posted by: Larry | August 07, 2007 at 10:53 AM
Trying again!
Posted by: Tom | August 07, 2007 at 10:57 AM
To Chad D:
Don't discount purchasing an existing (or 'used' as you put it) house. There are many hidden expenses that crop up when it comes to furnishing a brand new house. Window coverings can be expensive and add up quickly. Landscaping is another cost that also has a significant time component to it. FMF has been running several posts lately regarding curb appeal. When the wife and I decided on the current house, the existing trees in the neighborhood were a very important factor. There is a whole world of building new, and there is a whole world of renovating existing homes. Both can be done by the individual for a handsome profit. :-)
Posted by: Glen | August 07, 2007 at 10:59 AM
I wish I could afford to buy a piece of property, and build a home at my own leisure. My brother-in-las build a nice house in gated community in CA, (in which I installed the plumbing) for well under $550,000 4 years ago and is now worth over 1.5 mil. Now where I live I could could cut the building cost by half and still have a house equal to his in terms of size and ammenities.
Posted by: Anthony Silva | August 07, 2007 at 11:00 AM
Sounds like a great idea.
Posted by: Alan | August 07, 2007 at 11:35 AM
Please enter me again.
Thank you.
Posted by: Richard M. | August 07, 2007 at 11:39 AM
I'm in the midst of several big renovation projects on my home; this sounds very useful. Thanks!
Posted by: Andy | August 07, 2007 at 11:42 AM
Pick me. Thanks!
Posted by: Reto | August 07, 2007 at 12:17 PM
Winner
Posted by: Hemal | August 07, 2007 at 12:31 PM
I bet you could build in my area for around $125 sq ft. The challenge would be finding a piece of property in a good location and where the plumbing and electrical could be connected easily.
Posted by: klauss | August 07, 2007 at 12:34 PM
I'll give it a shot.
Posted by: James | August 07, 2007 at 12:50 PM
Count me in - thanks!
Posted by: Dave | August 07, 2007 at 12:59 PM
Got to try...
Posted by: Big Cheese | August 07, 2007 at 01:53 PM
Thanks for the opportunity!
Posted by: Curiosity | August 07, 2007 at 01:55 PM
I would love to save 25% on my next house evenif its not my "dream house", it would be well worth it in the long run!
Posted by: Dee Whit | August 07, 2007 at 02:12 PM
This is a GREAT strategy. Not only can you save money, but with sufficient planning you can custom-design your space to fit your family. Although I'd also keep in mind the resale value of any unusual features.
I would love to do this someday, and this book could help me realize the goal!
JC
Posted by: Jonathan C | August 07, 2007 at 02:20 PM
Doesn't hurt to keep trying.
Posted by: DG | August 07, 2007 at 02:24 PM
This new home owner is giving it another shot!
Posted by: JMS | August 07, 2007 at 02:36 PM
Just gotta give it a try
Posted by: paidtwice | August 07, 2007 at 03:31 PM
I would love this! I might just have to buy the book if I don't win it...
Posted by: Ron | August 07, 2007 at 03:50 PM
Another attempt
Posted by: Brad | August 07, 2007 at 05:01 PM
If I feel confident enough to do this, I would be able to build in 4 years. If everything goes well then, I would have to build for my parents and sisters!
Posted by: Beast | August 07, 2007 at 05:01 PM
It really sounds excellent but I am wondering if the building your own home price estimate of 75% of the prices around your area considers cost of land.
Count me in for the book, it probably answers my question.
Posted by: Cherly | August 07, 2007 at 05:33 PM
Here we go again for another try at the prize.
I keep forgetting to see if my local library has a copy...
Posted by: Rich Schmidt | August 07, 2007 at 06:13 PM
I'm somewhat skeptical of the headache vs. cost savings ratio, but I'd like to read the book nevertheless.
Posted by: Adam | August 07, 2007 at 06:23 PM
This giveaway is now closed. The winner is Andy who posted at 11:42 am yesterday. Congrats!
Andy, please email me (see: http://www.freemoneyfinance.com/2005/04/free_money_fina_4.html ) and we'll arrange to get you your book.
To the rest of you, stay tuned. I still have plenty of copies to give away!
Posted by: FMF | August 08, 2007 at 08:53 AM
I want to build my own house.
Posted by: Melissa Scyoc | May 20, 2012 at 07:14 PM