A group of friends recently took a vacation at one of New York’s Finger Lakes and Shortly After decided to invest in a newly built and furnished home.

Group of peers who decided to build a 4,000 sq. ft. vacation home in Watkins Glen, New York with an estimated cost of $600,000. Hire a reputable general contractor who will oversee all labor and construction. It will be the responsibility of the GC to hire reputable sub-contractors to complete work such as electrical, plumbing, painting and décor, roofing, windows, excavating GC ensure both payment and performance bonds allows for any potential payment issues to be settled quickly and orderly Subcontractors that are selected by the GC will be approved by the project team, SC will be licensed and bonded. All necessary permits will be obtained by any and all contractors and subcontractors, with routine expectations by local inspectors.

All contracts will be discussed and agreed upon by all parties and their respected attorneys if a problem arises, arbitration will be the first course of action. Any additional costs over $10,000 will have to be approved by the team before additional work will be accepted Financing obligations- they buyers are putting 40% down- $240,000 There will be no clearing or raising costs attributable to the project because the plot of land is completely bare. A construction access road will be constructed by the GC in order to transport materials in an efficient manner All materials and equipment will be completed within 90 calendar days of the start of the construction of foundations to ensure delivery and availability. Work will be completed Monday-Friday only. Roof will have a 25 year warranty Foundations will be waterproofed with associated warranty

4,000 Square foot, 6 bedroom, 5 bath, finished home. Fully finished interior, including all appliances such as a microwave, washer and dryer. Custom slate tile roof with 25 year warranty. Backyard infinity pool with grotto and water slide. Solar Panels to harness solar energy.

ActivityDescriptionDurationCosts AFoundation16$ 70,000 BFrame15110,000 CMasonry12110,000 DRoof/Doors/Windows1350,000 EMech./Elec./Plumbing1290,000 FInterior1260,000 GFinishes1970,000 HExterior2540,000 $ 600,000

Permits approved-May 2, 2011 Foundation dug and poured-May 17, 2011 Drywall, framing sheathing, plumbing, electrical and mechanical inspections passed-August 5, 2011 Pool Completed- August 18, 2011 Final inspections-September 1, 2011

Home must meet local building codes. Windows and doors must pass energy efficiency test. Exterior walls of house properly insulated. Ceiling and floor insulation must meet energy efficiency standards. Pool must be 110sq feet with a min depth of 3ft and max of 12 ft. Garage must be able to hold three cars and up to four recreation vehicles, dirt bike,atv,etc. Minimum of four industrial grade solar panels or enough to offset monthly energy bills by one third. Structure must pass seismic stability test in case of unpredicted glacier movement.

Structure will be built to specification of customer, all changes must be approved. Costs over 10,000 of original budgeted must be approved. Contractor reserves rights to contract out services. Contractor is responsible for subcontracted work. Materials and equipment are only on had for 45 days form start of project. Anytime over this is at additional cost. Dishwater and refrigerator are not included appliances. Site work is limited Monday through Saturday, 8am to 7:30 pm.

Rain- Whether should not be a major issue to the project because of the months in which work is being done. However, if it does rain it will no have a major effect on the project because there are extra days built in as contingency. Code- Building might not be up to code. This is not likely to happen because of the projects reputable general contractor. A list of specialists will be drawn up as a precautionary measure so that problems of this nature can easily be taken care of.

Material Prices: There is a possibility that prices for lumber, copper wiring and other building materials significantly rise. Resources: Resources that are needed are listed in detail in the proposal. Failure to procure the require resources could result in a serious set back. Cost Estimation: At the beginning of the project a projected budget of $500,000 was drawn. Cost will be monitored throughout the project to make sure the team does not go over budget. If costs end up being higher, the team will have to address accordingly. Transportation: Material Transportation is an essential part of the project. It is important for suppliers to get materials to the site. The project team must make sure that the general contractor has access to an alternative mean of transportation.

Foundation: Digging Laying -65,000 Interior Building (Rooms), Painting, Plumbing, Electric :112,000 Framing: 116,000 Siding: 18,000 Exterior Landscape Including Pool and Plants: 45,000 Driveway: 9,000 Concrete Masonry: 111,000 Total Costs: 476,000

ActivityDescriptionDurationCosts AFoundation16$ 70,000 BFrame15110,000 CMasonry12110,000 DRoof/Doors/Windows1350,000 EMech./Elec./Plumbing1290,000 FInterior1260,000 GFinishes1970,000 HExterior2540,000 ITree Removal (add work)410,000 $ 610,000

The heavy rains that fell midway through the project delayed the project. We did have contingency plans set in place to combat such an instance The cost of lumber was increased by 20%. Therefore for the 75% that needed completed actual building costs increased. We also had to subcontract a tree removal service that was not part of initial budget.

Foundation$66,000 Frame 148,000 Masonry 109,000 Roof/Doors/Windows 57,000 Mech/Elec/Plumbing 88,000 Interior 64,000 Finishes 69,000 Exterior 38,000 Tree Removal 6,000