It’s been a while since our last update as we’ve been pretty busy with the redevelopment of our current projects. At this point, we are starting to experience our first set of delays with contractors, quality control, and scheduling. It is definitely difficult to find the right balance between quality/reliability/speed/price. For those of you familiar and want to relive the days of business school, this is the epitome of game theory. Without getting into the technicalities of game theory, Versutia_ is essentially seeking the highest quality labor, most reliable contractor, quickest completion time, and lowest price possible. In a perfect world, we would be able to achieve the aforementioned desired results with every single contractor. Welcome to the real world as this is never the case!
From a contractor’s perspective, they want to complete a job as quick as possible with the highest compensation. If they focus on quality, their speed decreases. If their speed decreases, they make less money. Therefore, if they focus on quality, they will make less money as they are spending more time on the project at a fixed price (their dollar/hour will diminish). This doesn’t even factor in the notoriety of contractors and their aversion towards professionalism (phone call responses, commitment follow-through, etc.). By no means am I generalizing the construction industry as a whole so please do not deduce that all contractors are unprofessional. There is definitely a fair share of contractors that consistently overachieve. Anyway, I apologize for the digression.
Given Versutia_’s goals and the contractor’s goals, what is the typical outcome and what is currently causing the delay? From Versutia_’s perspective, we realize that there are trade offs that need to be made. Although the 4 variables are all important to us, we will absolutely never sacrifice on quality. Because quality is our main concern, we know that sometimes our trades may take longer on a particular job. Furthermore, it is extremely important for us to manage our budget and seek whatever will afford us the best quality at the lowest price. These two variables have really narrowed down our list of contractors available to us. These are the types of contractors that have a steady flow of business and are in the highest demand. These are the types of contractors that consistently overachieve. Most importantly, these are the types of contractors that are extremely scarce. Due to scarcity, when we are juggling multiple projects, we have to wait for the contractors to finish at one project before they can move on to the next. Situations where homes are idle due to contractor scarcity is identified as our largest bottleneck. The same can be said when these same contractors have promised their services to other clientele independent of us. Moral of the story is, if you know of any contractors that fit our criteria, we would love to hear the recommendations!!!
As we wait for the contractors to finish the Pasadena house, the pictures below show the home after the demolition, electrical, plumbing, and HVAC work have been completed. We are currently in the drywall repair stage.
Please see below for the full scope of work for the home on 12th Ave:
- Demolition (Kitchen walls, Exterior Siding, Windows, Bathrooms, Duct Work, Low Ceilings)
- Roof Repair
- New Energy Star Dual Pane Windows
- New Infrastructure (Electrical, Plumbing, Framing)
- New R-8 HVAC Duct Work
- Drywall Repair
- New R-38 Blown Insulation
- New 20×20 Porcelain Tile Flooring
- New Two Tone Custom Paint
- New Bathrooms (Custom Showers, Vessel Sinks, European Cabinets, Solid Surface Countertops)
- New European Kitchen (European Cabinets, Solid Surface Countertops, Stainless Steel Appliances, Mosaic Back Splash Walls)
- New Landscape Package
- New Versutia_Home
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