Frequently Asked Questions
Q. Why can't I hire subcontractors myself? Why do I need a general contractor?
A. One of the toughest challenges of any home addition or remodel is scheduling and supervising all of its different phases and components-from available supplies to delays incurred by a contractor who never shows up. The general contractor is your point of contact. You've got another life. This is his. He'll handle all of your subs, scheduling, questions, problems, changes…literally anything that arises. If you handled it yourself, chances are your subs would be on to the next job before you could even research the answer to their question.
Q. Why use a Design-Build contractor?
A. Using a Design-Build contractor is efficient in that the contractor, through experience, knows what works with particular designs. Often, a designer with no building experience might commit a design to paper without fully understanding the logistics required to make it work. A Design-Build contractor can also design a plan to specifically fit your budget, controlling both materials and labor costs to ensure you don't go overboard. With Marty Graff, if a project closes, the design fee is credited back to the price of the original project. You're getting two services for one price.
Q. Remodel OR Move?
A. I talk with a lot of people each year about what to do with their home. Most have the burning question, “should I sink more money into this house or just move?” The biggest sticking point for most people is “if I do all this work, will I ever be able to get my money back out of the house?”
Here is my (admittedly biased) view on this issue. The first question to consider is how much will it cost you to sell your home and move? The answer is a lot! And that is money you will never recover. For a home that will sell for $200,000.00 the cost of selling is going to about $20,000.00 to $25,000.00. First most folks have to spruce up the old place to make it more presentable. Some new carpet and some new paint, allow $7,000.00. Then when you do get a buyer and his Home Inspector checks the house over he finds another $2,000.00 of repair items that he tells the buyers should be done (at your expense). This is $9,000.00 spent on decorating and repair that you don’t even get to enjoy, it’s done for the next guy. Then there are sales commissions, 7% for a $200,000.00 house costs you $14,000.00. The combined cost is $23,000.00.
The next part of the equation is the cost to move and the cost to make the new house suit your needs. I would allow $3,000.00 for movers, and another $8,000.00 for miscellaneous decorating or improvements to the new house. Those items might include carpet, window treatment, patios or a fence.
The total out of pocket (non-recoverable costs) so far is $34,000.00! Then you have to consider the intangible costs to your family. If you move any distance at all you may have to find all new stores and service people to make your life work, cleaners, grocery store, gas station, bank, doctors and dentists and so on. Moving does come at a price.
Another thing I hear from my clients is “we looked at new homes and we would have to spend $125,000.00 to $175,000.00 or more just to replace the house we have and gain that extra 300 square feet of space that we need (and it would be on a much smaller lot).”
The next burning question is “how long will it take before I can recover my investment in this remodeling?” The answer depends on the type of work you do and the scope of the work. The cost to build additions is slightly more (per square foot) than the cost on new construction. The reason is that there is almost always some demolition to be done and the connection point between the new work and old work is seldom at a definitive point. Many times the electrical or HVAC has to be upgraded or moved in order to build the addition. Or the house has to be re-roofed or repainted to complete the work. Most times that work needed to be done anyway. I would estimate that you could recover 90% or more of the cost of additions as soon as the work is finished.
Renovating bathrooms and kitchens are not as clear-cut. I would estimate that most of those costs could be recovered within a two year period. Again you need to separate the cost of general re-decorating such as floor covering and paint from the equation because that work usually needs to be done regardless of the remodeling. While the cost of interior renovations (or renovations that do not add square footage to the house) may take a little longer to recover they are usually the type of renovation that brings your home up to modern standards and help to sell the house (faster and at a better price) than if they had not been done. The bonus is that you get to enjoy the benefit of the renovations until you do decide to move on.
Conclusion: while it may seem less expensive to move than to remodel there are a lot of good reasons ($) to consider making your current home the home of your dreams.