Yes, we GC'd our 4,000 sq ft house from April 08 to Feb 09. If you don't know how to do all the jobs that go into building a house, then you shouldn't do GC it. You won't realize the cost savings and speed of being your own GC if you can't get accurate bids, get things done right the first time, and keep the project moving forward by ordering supplies on a timely basis and lining subs up ahead of time.

Pros
Cost, well, you probably won't spend any less. But you'll have much higher end finishes at the end. For example, we have travertine tile and granite for every countertop, we'd have had ceramic and cultured marble with a builder.
You can add/use unique products and features. We found that the local builders wanted to build the house "their way", meaning we don't choose the doors and mouldings, we use their cabinet guy, flooring guy, tile guy, etc. Any deviation was either out of the question or big $$$.
Control over budget and time. If the project needs to get done by a date, you can push the subs where a GC might not for you.

Cons
Relationship Strain. Even if my wife hadn't been pregnant at the time, when your spouse is a customer, bad things can happen. Whoever is the one doing the GC'ing, they need to have complete control, power and authority. If the other spouse can't live with it, then don't GC the project.
Locating Quality Subs. It can be tough to find all the people. But once you get started, you'll be surprised how many subs stop by with a business card or you get referenced from your other subs.
Frustration. Subs don't listen. Subs forget. Subs lie. Subs don't show up. Subs are sometimes lazy. Be prepared to treat them like a 4 yr old. If you're not watching, they're probably not working.
Severing Relationships with Subs. If you can't fire someone, then don't GC. I let the Plumber go after the rough in (he lost an expensive shower valve). My wife fired our cabinet installer, because I would have wrung his neck instead. And numerous other contractors were threatened with a pink slip before shaping up. You've heard that nice guys finish last, well, nice GC's don't finish the job.

Unless you're in the construction trades, or unless you've built a house before, I would strongly caution against being your own GC, ESPECIALLY now! There are SO many people out of work, it should be easy to find a really good GC. That's the trick, finding a good one. But building a house is such a huge investment, there is literally no better investment you can make than finding a good GC, IMO.

I'm with iliya1 on this one. A good GC knows who the best subs and suppliers are. He will have built up relationships with them over the years and will get their best work and best prices.

Today's houses are complicated. A lot of things can go wrong, some subtle, some not so subtle. It takes good knowledgeable people to build a house right. If you or your subs don't know what you are doing, it can cost you a lot more than you would save by GCing the build yourself.

I agree most of what the others have said-plus- you really need a very flexable job that allows you to come and go through out the whole build.

We were owner/builder from july 2007 - dec 2008. My husband was onsite everyday, sometimes multiple times. Every time there was a question or problem, YOU are the go to guy(or gal). Yeah, it might be able to wait.. but then that is going to slow up the whole process.

With the exception of our first cabinet guy going bankrupt and us losing a substaintial deposit, all the rest of our subs were wonderful, ontime and did quality work. We knew some of them personally, and the rest came from referrals of people we really trust.

We did enjoy having complete control over the whole process, but even though we were very prepared- it was still stressful.

Here is a link that might be useful: my lessons learned post

I have a differebt take on it & would do it again in a heart beat, that said....

It is not for everyone & you need to be honest with yourself if you can "handle" the project. DH and I worked wonderfully doing it. I think it worked well because literally I was the brain he the muscle. Not that he isn't intelligent, I'm just etremely organized & do well with contacts, paperwork, follow-ups, contracts, schedules. I research tons and ask many questions.

We built an amazingly custom home with 4300 sq ft finished with another 2500+ to finish in the basement. We saved so much money and detailed everything our way. Custom cabinets, floors, 4 different granites (yes, bathrooms too). Trim decked out everywhere.

We passed final occupancy in 11 months and I was then 8 months pregnant with our 5th son. Yes, it was crazy at times. We lived, breathed and slept and worked about 18 hours/7 days per week. We both got some sleep. I was at the home 2-3 times every day. I was ALWAYS available and my dh's work was very flexible with him that year. He did a lot of sweat eguity for us too. The older kids (oldest age 9 at the time) helped and did homework out on the subfloor, etc. Literally you must be able to put your life on hold and handle a fast-pace & stressful time.

It isn't rocket science either, and you do not have to understand the complexity of each thing going into the home. You may end up knowing almost everything in the end. ASK questions and do your research. The key is to hire great subs. It is not that difficult to do the research to make sure you have good subs and then "trust" their work to an extent. It doesn't take that much investigative work to find the best subs in your area. If you hire the best you will not be displeased. They have a reputation, are the expert in their area and will give you a quality product. Call the local "good" custom builders and ask who they use. Stop at your neighbos and ask them. Drive around during the day to custom home construction sites and talk to them. What electrician/plumber/etc do you see people using? Research them, get bids from atleast 4 differnt ones for each job. DO NOT, I REPEAT GO WITH THE LOW BALL BID! Those, are the ones that do inferior work & CAN'T be trusted. We learned twice doing this. Use your gut instinct...I felt funny about our exterior sub and our granite installer. We were getting tight on the budget and they were substantially lower, so we went with them. Long story, but very difficult situations with both. As stated by previous poster. You are the boss and need to be able to fire or whatever else may be needed.

Yes, you do need to know about the construction process & timelines, and be able to catch on and ask questions. Dh knows a fair amount and took over the electric after the wires were pulled and he took over the plumbing after only the rough in. So, we wern't just flying without any knowledge. But, you seriously don't need to know more than the electrician, etc. If you hire a GC, they surely aren't going to know more. The electrician is the expert in his area and should know the most. There is something wrong if he doesn't. Just like a brainsurgeon knows more about the brain, else you would just go to your family doctor for everything. The main GC's job primarily is management. That in my opinion is why there are so many bad ones out there. They were subs who are trying to be a GC. They can't manage effectively, many use scraps of paper (lossed, always), write only on your framing wood, etc, etc. Also, who cares most for your home. You DO! Most GC's will find any way to get more money for everything. Your insulation, HVAC, etc will be of such a better product and for less money than a builder will most likely charge you for. Our trim is all solid wood and thousands less than all the GC's quoted for MDF.

Like I said it isn't easy. It is stressful, time consuming and challening. The hardest part for me was before the dig started. The subs weren't hard to hire, but getting past our county. It took hours of work and 3 attempts to obtain our starting permits. Another negative is I think it is easier to go over budget being your own GC. It is easy to say add it in when you are offerred upgrades/options on site. At the end there are other expenses too that add up.

If you followed all my ramblings, start researching and educating yourself. Answer questions honeslty if you have the time, organizational skills, can work with your spouse, etc. Perhaps it might be worth it for you to save/earn (however you look at it) $100,000+++ for a years worth of work and basically a year lossed from your life. For us $150,000 saving was worth it and we will sell and do it one more time (if and when the market justifies it). Best wishes in your decision.

mommyto4boys, great post! 11 months? - incredible. And pregnant. Well, we know about that. We had THREE children born during our build. Ours took a little longer, hence my advice to get a good GC. One of the biggest problems with being your own GC is the construction loan time frame. You MUST finish the house in the 9-12 month construction loan period, or else the bank considers you in default. After that, the extension fees and interest rate hikes will eat up any money you saved by not paying a GC. If it takes significantly longer, you can end up loosing everything. That's what almost happened to us. We managed to refinance our construction loan, but I'm not sure that's possible in today's atmosphere. The only reason we were able to pull it off is because we had an unusually high loan-to-value ratio. Nevertheless, it left us with some pretty serious debt as we were fighting for our lives to save the house. But we did get a final, and we do enjoy it now. Still, I can remember many times where all I could do was sort of lay on the floor and cry. However, after a good cry, you get up, get back to work, and eventually get it done. I, for one, would not do it again.

Glad to learn from everyone's experiences.

I am ending up being my own GC also. Didn't really plan to be, just ended up that way.

One of the things early on, was how much does it cost to build. Well you don't know until you get a plan and start sending out that plan for bids.

In doing so, lumber yards get wind of your build. Subs get wind of your build. I asked alot of people for reccommendations on the various subs. I did contact 4 GC's also, and while waiting for their bids, I had pretty much already contacted each sub that I needed and when I added up their prices and compared it to my GC prices, I decided I could do this. I still would have gone with one GC in particular because I have an idea what he is going to come in at, but I am still waiting for his official bid.... so I just decided to get this party started.

My job is to get the house built, so that is an advantage many people dont have.

The internet provides at your fingertip research that use to not be available so you can cover alot of ground in a short time.

We are a small community and the local lumber yard gave me a great deal. They also gave me great info on subs. They give me lots of good advice every time I call. They bring samples to my home, even leaving samples on the patio when I am not here. They came here for our first visit to get my wish list, came here to bring me my bid. They even called me today to let me know that the metal roof I want to use is taking a price increase next month so if I want to order, they would keep it there for me until I am ready for it. I asked about colors, so later they dropped of my color choices :-)

My friends think I am crazy. I probably am. But I figure I dont have to know how to drive a nail, so long as I can find someone that already knows how. I dont have to raise a roof, so long as I can find someone that already knows how. I can hire good subs and coordinate getting them here, I can do that.

I was very nervous at first, lots of anxiety, but I am okay with it now. But I have barely started so I may sing a different song later.

But was so glad to read a post that did GC on their own, I was beginning to wonder ... but I think with the economy as it is, it is a good time to build. Scheduling good subs is easier now than when everyone is building. Earlier in the spring was a whole different story I am sure.

Bigger city building is probably a different story also. The subs I have mostly been dealing with live here locally, go to church here, send their kids to the same school. My neighbor is a well driller so he gave me lots of names that he works with on a daily basis for some of the newer technology like geothermal and insultion, and also the names that worked on his house 6 years ago.

I am also building fairly simple with simple tastes. Just a farmhouse with wrap around porch, but even that is adding up fast with things like geothermal heat pump, etc.

So it is a crash course, may end up being a crash and burn. I have learned that GCs definitely earn their pay. But this is my job now... with lots of on the job training. And I know there will be mistakes and much stress, and tough decisions ahead, I think it will be worth it. Let's see how I feel in 6 months huh? :-)

But I am just so at ease with my foundation guy, he is Mennonite, and my Framers who can do most of the jobs except plumbing, electrical, etc. are Amish, and they are so laid back and relaxed. They know their job. They know what they need to do. And they just dont get real excited when a situation pops up and I think that is what I need. I have to wait about a month if I want them, and I do. I think it will be worth the wait and they will get it up in no time once they get going.

I had to do a bit of work to find them, since they don't drive and dont have phones, and he is pretty in demand because of the quality of his work and fair pricing.... so that alone is an interesting story in itself but it is part of my journey and experience and I wont forget it.

I just feel blessed to be able to do this for my family and our future. I am actually looking forward to the rest of my journey whereas before, I had so much anxiety I thought I was going to be ill. But I have been praying a little more than usual, implementing a little feng shui in my design and decor plans, I feel I have done my research, and I can put alot of faith in the subs I have selected. A GC would have to do the same in trusting the subs he hired.

I know I can do this and be proud of our home and a job well done. I am very lucky to be in a position to do it where not everyone can. But I don't think I could do this anywhere but here, and I do not think I ever want to do it again. But I didnt think I would want to do it now either :-)