Building and buying
Planning and building process
You can optimize the process of building your own home with good organization, coordination, and communication. How much it will cost you depends on whether you retain an architect or full-service contractor as your building partner.
An architect generally takes on the role of your representative, does the planning, takes care of the coordination, and performs fiduciary tasks. Depending on the contractual agreement, he may perform the activities listed below. As the principal, you are expected to be involved, make decisions, and review the contractually agreed services.
If you opt for a general contractor (GC), you conclude just one contract for the construction of your house. This involves you commissioning a turnkey building. A full-service contractor (FSC) performs the same services, but also takes care of preparing and planning the construction work as well; this means that you have less to do accordingly. All you have to do is contribute any special requests and agree how these will be executed. The main activities are covered by contracts and generally encompass the following points:
It is clear that this type of construction makes fewer demands on the principal, because the organizational flow is largely predetermined. However, the scope for individualism is less than with an architect, in return for which the construction costs are generally lower for the same standard of work.
Products and services in these webpages may not be available for residents of certain nations. Please consult the sales restrictions relating to the service in question for further information.
© UBS 1998-2013. All rights reserved.