Anyone who knows how to swing a hammer can probably erect a shed. If you have a little bit of experience in building, then you can probably take a wall out of a home to extend the living room, or put one up to split the master bedroom into two. If you work in construction as a professional, you’re expected to know just about everything, and if you don’t know it, then you know somebody who does. So what is that a high-end builder does that an everyday construction foreman doesn’t?
Well, it’s really about the market and the approach to designing and building something. A skilled construction crew can build a home just as well as a high-end construction team can do it, but a high-end construction crew is catering to a wealthier market, and typically building custom structures that are designed not only to be lived in, but to appreciate in value by leaps and bounds. You don’t hire a high-end crew to put together an apartment building or build an additional room onto your house, you hire them to build a dream home.
Here’s what to consider if you’re thinking of pivoting into high-end construction:
- There’s a lot of money in it. Like we said, you’re catering to a wealthier demographic. You’re likely to take fewer jobs, but you’ll typically earn quite a bit more on each contract. This is true whether your team is the one building the house, or you’re just doing the wiring and light fixtures. On the other hand…
- It’s a smaller market. If you’re looking to build mansions and Summer getaway homes, you’re going to be making more money, but probably doing far fewer jobs. Unless you live somewhere like Beverly Hills, you’re also looking at a much longer drive to get to the jobsite every morning, as you’re going to be moving all around your territory to work with your clients.
- It’s collaborative. You need to collaborate with your client from the start, and throughout, on the design of the house. Some professionals can’t stand this part.
- It’s mostly marketing. If you can build a cabin, you can probably build a mansion. You need to convince your potential clients that your team is specially suited to building homes that are lavish and aesthetically pleasing. A selective portfolio goes a long way towards building this trust.
High-end construction isn’t for everyone. Some markets just don’t create enough demand to support a new high-end construction companies, some professionals are more comfortable with the work they’re already doing. Specializing is a great way to keep your foothold in your field, but you need to make sure there’s a market for your specialty.
