Building a Garage
Keller Graduate School of Management, DeVry University
Proj595 - Risk Paper #2
Risk Paper #2
Two years after purchasing our house my husband and I decided it was time to add the garage we so desperately needed. The argument, as with many couples, is who will be building this garage and it was no different for this project in our house. My husband believed he could save on some of the costs by doing much of the prep work and then have the contractor come in and just build. I on the other hand knew better and wanted the contractor from the beginning ensuring we had a professionally built garage with the specifications we wanted and backed by a warranty.
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Simply, this contractor offered more and provided a detailed justification of why certain material he uses is priced higher based on higher quality that has proven longer lasting and resistance to natural environmental factors. Additionally, the garage should not take long to build―a little less than a month and no unusual specifications to cause a problem. This timeline added extra days for possible weather related delays considering it were spring time, materials were standard, plans and architecture were standard so we felt there was no need to have an elaborate contract. Basic, simple with half paid upfront and final payment due upon final inspection.
At one point, we thought about expanding this project to include an apartment or livable space above the garage along with a section within the garage for a workshop for my husband, however, a drawback to the apartment for us was it provided a reason or opportunity for one of our grown children to return home and not necessarily an income investment or family visiting space. Doing so in my opinion would have had us looking at other types of contracts as the details and amount of work and resources to...