Pros And Cons Of Being An Owner Builder

Before you plan to take the giant leap of becoming an owner-builder, you need to be aware of the liabilities that you ought to face. Although you will have a substantial amount of work to do which will save you the labour cost, you may be exposing yourself to liability if your plans do not go as intended. A degree that you get through NSW owner builder course is not sufficient to make you a successful owner builder until you are ready to face any challenges that come your way while you practically do the work.

It is very useful to have a degree from NSW owner builder course in order to know the basic of owner building. But a good owner builder is a person who understands that there may be several trips and traps in the process of constructing a building and faces them with great efficiency. The most common benefits and drawbacks are discussed below.

Being An Owner Builder

Advantages of owner builders:

Save money:  The main advantage of getting an owner builder permit and carrying out the project is that you can save money. By getting an owner builder permit and doing the building tasks yourself you are able to save thousands. You don’t just save labour costs but can selecting fixtures, fitting, and materials and flooring in for the most competitive prices.

Control:  One of the most rewarding aspects of being an owner builder is the control it gives you over the project. However professional and dedicated a builder may be, they may not have your precise vision for the renovation of the project. You know exactly how you want to finish your project. You have the complete control over every part of the project also gives you the flexibility to change the plans if necessary and rearrange deadlines.

Satisfaction: You are in charge of the project and make all the decisions, supervise all other tradesmen and ensure the building is done. This full involvement is tiring, yet enormously satisfying. As you are know every nook and cranny about it and so there would not be a stance that could mislead you.  Since you put in the effort to build it your way, in the end you would admire it even more.

Disadvantages of owner builders:

Time:  A house renovation is usually a big job and you will need to take time off from work to complete the task required. This is definitely time consuming and you might have to halt all other work to complete this, else you project might take years to complete.

Supervision:  Proper supervision and co-ordinating the tasks of other trades people is a vital part of any renovation project. Although it is exciting but it is very difficult as you always need to be on site of the project.

Finance: Raising capital for your home renovation may be difficult if you are registered as an owner builder. Many banks and other financial institutions may consider the risk to be higher to fund you.

Cost:  While saving money is one of the key reasons for going with the owner builder option, this may not always be the case if things go wrong. However if things go wrong, it may cost thousands to call in licensed trades people to fix the problems.

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