Eddie,
Your comments for the most part are right on and I agree with you. Being your own GC has many trade-offs, some benefits, some negatives.
Yes, our house would be finished now if we used a competent GC. There is no way we could complete the construction as fast as a GC could. However, when the building boon was going on in this area not too long ago, it was commonly taking 12 to 18 months to build a house; that's the schedule we are on now. Yes a good GC could finish our house in 4 to 5 months and a bad one could finish it even quicker.
Regarding pricing, I said the GCs bid the job at 50% more than we could sell the house, not 50% over cost. One GC supposedly bid the job at cost plus 12%; the other GC bid the job at cost plus 15%. What I can't figure out is how they came up with the "cost" part of their bids. The bids we got on our own were significantly lower than the "costs" that the GCs had on their bids so I wondered if they were padding the "cost" portions of the bids to pad their wallets. For example, the foundation and poured concrete wall bids of the GCs were about 40% higher than what we paid and I believe the foundation guy we got did an outstanding job.
Cost plus bids are not always what they appear. I might have been willing to do cost plus 10% or 15% if I could believe that's what I would really be getting.
Yes, there are all kinds of versions of "right". However, when you, the bill payer, specifically state how you want something done, then there is only one version of "right" - the way the person who is paying for it says to do it. Many times we spec'd how certain things were to be done, often in response to suggestions made in this thread, and time and time again they still got missed.
For example, we told the framer to install a cricket
here on both sides of the dormer. The cricket and kickout flashing were our solution to shedding water. Well, a cricket got installed on one side of the dormer but not on the other. The vinyl sub installed the vinyl on both sides without telling us the cricket was missing on one side even though the vinyl sub knew we were supposed to have crickets on both sides. My wife caught the error when she was on the roof working with the brick sub to grind a groove in the brick for the over-flashing. A GC would not have caught this mistake - unless he were up on the roof specifically checking this fine detail - very unlikely.
As another example, the roofer ran out of ice and water shield and tried to install the shingles in a valley without the ice and water shield. I just happened to be onsite at the time and didn't see the ice and water shield when the roofer was installing the valley so I climbed up on the roof to check it out. In my opinion, it is doubtful that a GC would have caught this. GC's for new house construction just are not on site that often. If we had been using a GC, we would not have been keeping as close of an eye on the construction and might have missed some of this stuff. While a GC might be good and his subs might be good, they will always have workers who will cut corners if not consistently watched.
These are just two examples where my opinion of "right" was not done and we had to have them corrected. Both situations were specifically stated as part of the job but didn't get done the first time. I could fill a book with other examples, many of which a GC who is only on-site less than 20% of the time (8 hours in a 40 hour work week) would not have caught.
Now, I'm not flaming GCs. A good one can save the owner a lot of time and stress; having a mediocre or bad GC is worse than not having one. Although we haven't yet finished the house and compared our final cost to the GCs' bids, I'm fairly certain that we will come in at a lower cost than if we had hired a GC, even considering the rework that a good GC would have prevented. In our case, the GCs were more expensive in dollars than being our own GC. However, we have many, many hours of our own time invested in managing this project so nothing is free.
Obed