I apologize if I seem to bounce around a bit. One reader commented using a quote from Yogi Berra; “If you don’t know where you are going, you might wind up someplace else.” I’m not sure if that was aimed at me or other readers trying to follow the path I’m paving. Both could be true! I do tend to wander. I hope my direction becomes clearer as we move forward. The residential building industry is suffering from a long-term decline in institutional knowledge. My intent is for you, the reader, to gain a little insight as to why things are disjointed. Perhaps if you can understand why construction is haywire you can better understand what I’m suggesting you do . Then you can map a path forward on a bed of better decisions. Unfortunately, part of my challenge is helping readers “unlearn” groomed behavior from internet marketing. Basically, this is where we are:
- The Internet directs you to builders to explore your home building project options.
- I’m telling you that this action can seriously restrict your options and the desired outcome. It also leaves you without an advocate in the process.
- The better course is to first seek a designer and explore your project without bias and THEN present the results to multiple builders with uniformity and a well defined scope.
- Now, you control the narrative.
- Gather information and documentation on your property.
- Do you have a survey?
- Are there any building restrictions on your deed?
- Do you live in a ‘historic district’?
- Do you have an HOA that reviews designs?
- Evaluating both Designer and Builder candidates takes significant effort. Either choice is critical to your project’s outcome. Take your time and review each candidate carefully and avoid “marketing” tools that look like reviews or endorsements. Remember, there is such a thing as “5-star incompetence”!
- The Dunning-Kruger Effect is real and thriving. If you aren’t familiar, Google it. Although alarmingly present throughout American industry, building construction feels like its happy place. Be aware. Be discerning.
- Don’t base candidate choices on a 5 minute search. Both the designer and builder will be spending your money! Research like it matters because it does.
- Know what you want to accomplish and seek ways to articulate that message to your designer.
- You can’t have too much info. They aren’t mid-readers. Use pictures, sketches, skywriting, whatever. Regardless, be consistent and complete with your message. The more defined the starting point, the better the outcome.
- Focus more on what you want your project to accomplish and not as much on how to accomplish it, design-wise. The designer will help guide your options.
- The only stupid question is the one you didn’t ask.
- Take your time. It’s rare that home remodeling or renovation is “life or death.” Pushing a time limit is costly. Remember, in construction you can have only 3 things: speed, quality or optimum cost. Of those, you can have two. Speed is rarely worth it from design through construction.
- Know your limitations.
- Carefully determine a budget you can live with. Be conservative in your projections. Just because you can, doesn’t mean you should.
- Cash is king. Consider finance as your first funding tool moving forward. It offers some protections that are very desirable. You’ll still have your cash. No matter how well planned, in renovation/remodeling, surprises can often pop up.
- Be able to define what you want vs. what you need. Your ultimate design will be a product of compromise. Getting 100% of what you want isn’t necessarily unrealistic but it isn’t guaranteed.
- Be aware of the building economy conditions as much as you realistically can.
- The current market is still rather volatile. Labor costs are still shifting and will be for a while. They probably won’t fall a lot.
- Material costs are unsustainably high. If there is any truth in a “free market economy” they will fall in time. However, that is only true if consumers exert their influence by withholding their purchase. Anticipate the practical reality that some government regulation may be necessary before we regain our footing. Regardless, this will take some time.
- Currently, some regional profit models are a touch “wild west” in nature. Transparency is your friend. Don’t put your builder’s kids through college on one project.
- Waiting for the market to stabilize doesn’t mean sitting on your hands.
- Use the wait wisely. Plan.
- As the market stabilizes, there will be a rush on the limited builder resources available. Prepared homeowners will have the advantage.
This basically sums up where your head should be. Until next time…