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Contractor selected

March 19th, 2008

After another round of interviews with prospective builders our selection has been made!

To maximize our flexibility in dealing with changes as they arise, we’ve opted for a variation on a “structured management” arrangement with our builder. Technically, we will act as the General Contractor and they will take care of managing all the details, with the exception of signing cheques. (This nicely avoids that nightmare situation where one pays the General Contractor, but the General Contractor doesn’t pay the trades, who then lien the property.)

Another interesting aspect of our arrangement is that the exact fee paid to our ‘project managers’ increases as the total project budget decreases (and vice versa). This provides them with a financial incentive to keep expenses down for us.

But the most important aspect of selecting our builder was a strong sense of trust we have in working with them. All the final candidates seemed like people we could work with but our “warmest, fuzziest” feeling was with our selected builder.

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