There are many people who, instead of selling their homes and moving, are investing in them and changing them into more functional spaces for their families. It can be much more cost-effective to spend money on extending your home to give you the space you need rather than going through the cost and hassle of moving home. You will need to have plans created for your home extension, and you will also need to hire the services of a reputable builder. However, if you are on a tight budget, you may want to look for ways to reduce the build cost, and project managing it yourself is one way to do this. Below are some pros and cons of doing this task, which can help you save money but is a massive commitment.
Save Money On Building Costs
One of the most significant benefits of project managing your home extension build is that you can make fairly considerable savings on the overall cost of your project. You will not need to pay the fee of someone else overseeing and managing the project; you can also save on the cost of the materials for your project. Many builders will offer to get the supplies themselves, but they will typically add between 10% and 15% onto the cost of the materials to you, increasing your costs. When you buy plaster, bricks, cement, and other building materials by yourself, you can save a significant amount of money on the costs of your supplies potentially.
An Investment Of Time
One thing you will need to be aware of is the investment in time that taking on the project management tasks will entail. You must do many jobs, such as sourcing the materials at the best price, having them delivered when needed, organising trades on site, and keeping a record of all expenditures. You can end up putting in many hours of admin long after everyone else has gone home for the day, so you need to be aware of the time commitment project management can take, even for the highly organised.
Potential Extra Costs
You also need to be aware that when you are project managing, if you are not on top of the supplies and when they are required, it can potentially cost a lot of money. When you organise trades to be on-site for specific jobs and do not have the materials, you still need to pay for them, so the costs can soon add up. You need to have a continuous supply line delivering everything needed, slightly before it is required, to ensure there are no costly delays.
A Sense Of Satisfaction
One of the biggest pluses about taking on the project management role of building an extension to your home is the immense sense of satisfaction you feel when the job is complete. It gives you a real sense of accomplishment seeing the fruits of your labour, and although you may not have done the skilled work, without your input, it would not have happened. If you are considering taking a project management role on your home extension project, click here to get some tips you will find helpful to get you started.
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