I am in the verge of starting construction and I wanted to give a "Material Contract" just for the reason I don't have enough time to run around if I give a Labor contract. I know a contractor very well and he did tell me in advance that there will be a variance of at least 10 - 15 % in material contract to labor contract.
Hence I know him well, he suggested this - I give a material contract for Civil construction, contractor to do a skeleton of the structure. He is OK for labor contract in case of Tiles, Wood work including windows and frames, electrical, plumbing and painting. Hence he is a material contractor he has all the labors in his payroll, and I can directly negotiate with them to accomplish the building. By this, I can get my own wood, my selection of tiles, required paints, electrical fittings and bathroom fixtures. The advantage that I will have in this case is that whatever discount contractor would have got from sellers, I will get to enjoy them. On the flip side, my architect tells me that Civil work is smaller part and rest of the work itself is of big deal, he suggests me to think about it with numbers
I am thinking this is a good idea, do share your thoughts
If someone has already done this type of agreement, please do share some experience. Also, please do share if anyone has templates for the contract that I need to sign with contractor. It will help!