Principles of the PF Method Home Construction Company
1. Our most important principle is our fiduciary responsibility to the client’s money. We will place all funds into a separate checking account dedicated to the client’s project. These funds will not be co-mingled in our general fund. We will frequently review how this money is spent with the client.
2. To drive the cost of the home construction project as low as economically possible while maintaining excellent quality. A 3,000 square foot (SF) house should only cost $150 to $250/SF. We do this through our project and construction management expertise.
3. Finish materials will be of the highest quality because this is what creates beauty and long life. Concrete, framing, electrical, plumbing, and drywall will meet or exceed the requirements of the building code.
4. To work collaboratively with the client to accomplish the goals of the construction project. To also maintain a professional work relationship with the client. We do not believe in adversarial relationships.
5. We work on a fee basis for our profit (15%) and overhead (15%) and all construction costs are at cost with no markups. The fee is based on 30% of $200/SF or $60/SF. On projects where a SF calculation does not work well a negotiated fee will be established. Once set the fee does not change throughout the project unless additional square footage is added to the scope of work.
6. We work from funds deposited to our company from the client. Our fee is taken at the first of each month in an amount determined by the fee divided by the number of months of project duration. Any unspent construction money is returned to the client at the end of the project! $8,040 was returned to Mr. Goodwin on his 1,900 SF complete house remodel/upgrade project.
7. Project schedule will be determined by the project scope of work. However, since I presently use sub-contractors for each phase of construction my process does take longer than if I had my own staff. However, the longer construction time is more than offset by the cost savings inherent in the Pat Fay Method of Home Construction.
8. If we cannot resolve a dispute we will use binding arbitration rather than wasting money on lawsuits. However, Mr. Fay usually does not have this kind of problem.
9. Mr. Fay promises to use his 40+ years of experience in engineering, construction, design, project & construction management, construction accounting, as well as, actual hands on construction for 2 years as a field engineer on the construction of over 800 houses to provide an exceptional construction experience for the homeowner. However, do not forget that construction is controlled chaos and not everything goes well. Problems are an ever present part of home construction and Mr. Fay is skilled at solving such problems.
10. Finally, home construction is not difficult; it is just plain hard work.