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So what exactly are the pros and cons of Building Cost Plus versus building at a Fixed price when you're looking to be Building a home here in Sarasota County I brought on my GC partner Josh Willow Today on this video and he's going to be Breaking down kind of what he sees in The industry in terms of pros and cons And also what I've seen being a real Estate broker here what have been the Cons with building Cost Plus versus Building fixed price and vice versa as Well so I appreciate you coming onto This video today no problem so let's Break down and let's start off by Talking about what do you see being like Let's say the one or two major Advantages of building Cost Plus well The major advantage of Cost Plus is the Transparency The homeowner gets to see every single Bill that comes through from all our Trade Partners so they can they can Adjust their budget right you know they They might spend less here so they can Do more there you know Less on you know The finished part you know to be able to Accommodate for nicer countertops Cabinets things of that sort and it also Gives them a peace of mind knowing that Here's our set price We're we're going to be on target to hit Budget and a lot of times we come in Under budget which

Is great because then they tell all Their friends and then we we've created A great relationship right so what would You say would be one of the biggest Disadvantages of building Cost Plus The paperwork Now it creates a lot of paperwork on my End just because of I when I when I get A bill from my trade partners I send you a bill but I have their their Bill copied to it that's the that's the One of the biggest disadvantages it does Take a little bit longer on my office End of things not the build end because That keeps US fluid on the building just Keep going going going right Um that's probably the biggest Disadvantage that I I see it doesn't Hold anything up Um other than the paper it's it's it's Pretty Flawless right right I think the Biggest thing to come about that is Mainly the transparency aspect 100 Building costs plus you know exactly What the materials cost what the Subcontractors cost and then you have The set contractor fee that was built Into the contract as well so Everything's very transparent up front You already know what you're getting Right at the contract you're not left Wondering oh well what else is what else Am I missing basically right right and It kind of eliminates change orders

Right unless we go in and we're halfway Through and then oh I want to change Walls and re-engineer this but that's Few and far between because nine times Out of ten we have everything ironed out When we're going to build right now it Gives us an opportunity we can change on The Fly you know oh I want to shower Head over here so we can add you know a Little small things right and but we Don't have to go through a whole change Order process right where that's where We'll get into the fixed and right That's where a major on comes in okay so I guess going into that what would you Say is the biggest advantage of doing a Fixed price build The biggest advantage On the Builder's side it's knowing I'm Going to make you know a fixed cost Opposed to Cost Plus the Builder always Makes more money because they already Know in the advanced kind of what They're going to make their percentage Has gone up on the front end right of The build right But when you get into The actual bill part and you start Making changes that's when the change Orders start coming into effect right Well I I also think that a lot of build Or a lot of customers from the outside Perspective think that the fixed price Is a huge Advantage because they have

They don't know it but they have a false Sense of what the price is actually Going to be I think that's the biggest Thing going into it what people think oh That's a huge Advantage is oh I know That this house right here is going to Cost me 500 000 that's it I'm good to go I think it's a false sense of security At that point just like a regular nine To five job for example you have that Fixed salary you think that it's all Safe but you may get fired one day out Of the blue and then you're out of a job Correct I think it's very similar to the Fixed prices that you have a false sense Of security when something could easily Change and then you have to go back and Be like oh well it's X more dollars Absolutely and typically on a fixed Price you have very limited selections Right for your flooring cabinets Countertops even your paint now the House we're in now has crown molding a Lot of houses with fixed prices unless You're paying upgraded for a model or Whatever do not come with certain Aspects right well if you've got three Or four options to choose from and you Don't like any of them well that's tough You can't you're stuck with what you get Right whereas if we go Cost Plus let's Figure out how we get what you want Within reason right so I guess that goes Into what would you say is the biggest

Disadvantage of fixed fee building The biggest disadvantage of it is your Selections typically you don't get a Vast array of selections if you want to Come down if you're coming down here and You're this is going to be my second Home or my forever home my retirement Home right you're going to want to be You're going to want to be comfortable In what you live in right and then if You pay five six hundred thousand Dollars for something you're not really Happy with that's not a good buy for me Right so for example these cabinets say You only get a couple different color Options white brown and maybe a gray Right first spec home builder you know Fixed fee building versus right here I Don't know if you guys can see it but These are navy blue cabinets that may Not be in what their fee is or their Prices they may not include Navy they Just want you to pick from those three Cabinet colors absolutely and like to go From this contrast to this contrast it Costs me no different right if these Could be white and the these can be White just go to go on to Blue didn't Cost me any more right it's an extra Step for me to order it in blue but it's A click of a button right you know right Things of that sort so basically it just Comes down to having a limited selection Limited selections absolutely gotcha

Okay well cool well I appreciate you Breaking down kind of those two Different sides of building Cost Plus And fixed fee and if you guys have any Questions specifically regarding Cost Plus or fixed fee building leave them in The comments section down below or if You guys want to get in touch with Josh Also reach out to us with our contact Information down in the description down Below we'd be happy to answer any and All questions that you have about Building so with all that being said I Appreciate you guys checking out this Video and we will catch you guys all Next week

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