First off, when I researched this, I did not find a single website or home renovation guru who advocated homeowners being their own contractor. Some articles have promising titles ("Be Your Own Contractor! Save Money!") but quickly turn into a rant against homeowners who have the gall to think they can be their own contractor. Second, based on my own experiences, I have reservations about wholeheartedly advocating that homeowners act as their own contractor.
That said, let's take a deep breath and plunge in.
Why You Should Be Your Own Contractor
Money
Save money. Big money. Huge money. This point requires some deep thought.
When you take on other do-it-yourself jobs, you save a healthy proportion of money--but the total dollar figure for the job often isn't that great. For example, if you sand your own floors rather than hiring a crew, you may save several hundred dollars, depending on the size of your floors.
Nothing to sneeze at. But the amount of money you save by acting as your own contractor is staggering. Figuring a 20% contractor's commission (which is not top end of the spectrum) on a $200,000 addition, you'll save $40,000 by acting as your own contractor. Kick that commission up to 30%, and you'll have pocketed $60,000. That buys a lot of hardwood and granite for that addition, or sends one of your kids off to college.
It's Clean
Tired of mudding and sanding, or of demo'ing plaster walls...or of getting splattered with paint? This is one project you can do in the comfort of your home office, with a computer and phone. Believe me, after three or four years of hefting sheets of drywall or hand-nailing floor joists, it starts to look pretty good having other people do that work.
Control
No matter how much the contractor claims to be an instrument of your desires, you will lose some measure of control. The foundation guys will show up on the Saturday you specifically requested a "stop work day" because you're throwing a baby shower that day. Or the windows aren't quite right. Or costs have escalated and you're not quite sure why. By acting as your own contractor, you have total control--for better or worse.
Build Up Your List of Subs
One benefit of paying the giant commission to the contractor is that he insulates you from some of the less-pleasant aspects of home remodeling. Fact it, sometimes dealing with subs can be a pain.
But by dealing with subs directly, you build up your Rolodex and get to know these people personally in the event you need them at a later time (and you may meet some really great people, too). Also, because you have used the plumber for a big-ticket job, he may be more amenable to showing up at an inconvenient hour when you have a plumbing disaster!
