Cian BrennanFounder, Quantum Contract Solutions · Founder

Why Your Construction Project Isn't Finished: Understanding the Causes

Name: Why Your Construction Project Isn't Finished: Understanding the Causes
Uploaded: 2023-08-21T22:00:06+00:00
Duration: 30 s
Channel: Cian Brennan
Description: In this segment, the speaker explains why construction projects often remain unfinished. He highlights that homeowners frequently operate under tight…

21 Aug 2023 · 1 min

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In this segment, the speaker explains why construction projects often remain unfinished. He highlights that homeowners frequently operate under tight financial constraints, such as limited mortgage funds and capped budgets, which make even small cost overruns problematic. Competitive feelings over minor price differences can further stall progress. The most costly issue arises when a builder goes out of business, forcing homeowners to find a new contractor and causing project costs to spiral dramatically.

Chapters

Ultimately, people can get locked in these little, I'm getting done over by a couple of hundred dollars here and a couple hundred dollars there. And sometimes there's that, that competitive feeling, or a lot of times actually, to be real, people are getting mortgages to pay for these things and they have a capped amount of money. And so they are tight on money and that makes it difficult. But what costs a lot more money is the job not being done. And so the builder going out of business, you got to find some other builder in the meantime, and the cost can absolutely spiral.