Our build at Palmetto Bluff progresses on schedule, a result of careful planning and outlining expectations with crews and subcontractors at every step of the project. The Gantt Chart shows it running at about 6% per week. With a typical custom build taking 8 – 12 months, that represents a cracking pace although our ability to keep this pace is yet uncertain. All manner of things can delay a build, although right here and right now I’m really pleased with the team. It is indeed the unusual problem you face having a project going much more quickly than expected. We are over 8 weeks into the build as defined by the first concrete truck beginning to pour. We are, in truth, much further into it if you represent when we bought the land (3 years ago), commissioned the architect (18 months ago) or started to clear the land (4 months ago). However, all that is in the past, the timeline was really under our control, and we were in no hurry. I am now. 

At 6 weeks in, the main house had some issues, this being one more of an inconvenience than a major problem and happens all the time in a build when plans go awry. Our land is quite low, lower than the road and lower than the surrounding lots. A storage room floor was designed to be 5 feet below the main floor level, legally below FEMA Flood allowing for a master bedroom located above to be about 2’6 ” above main floor level. However, after further looking at the topography, we envisaged it was likely to flood when the area became sodden with summer rains. A simple solution was to raise the side structure by 2 CMU blocks being about 18 inches total, allowing any water to drain off rather than flood the building. A conversation with Pearce Scott Architects and application to the Palmetto Bluff DRB (Design Review Board) for an amendment and we are all approved and can elevate the side structure slightly. Comparing Palmetto Bluff approval procedures to those we experience building in downtown Charleston, this was a breeze!

Lastly, amongst the adrenaline of success, we are writing a lot of large checks to suppliers who understandably expect to be paid! Without a doubt “cash flow is king ” in the construction business and a fast-paced clip at the build also means cash is burning quickly. So we need an unusual frequency of Bank Inspections to draw down on our loan. One advantage of using a local bank who was pre-warned of our plans. South Atlantic Bank funds a lot of our projects and have truly become a partner in this process that can often turn adversarial if each party does not fully understand their role and responsibility. There is a reason why Project Management is important even on a straightforward construction project. It allows your General Contractor to sleep at night. A second call was made on our construction loan from South Atlantic Bank. They will estimate the percentage completion and release funds accordingly. This is an imprecise science and may not exactly equal expenditure, especially if deposits have been placed or materials are on site but not installed. Your Mobilization Deposit has several uses, filling that gap being one of them.
Palmetto Bluff: Site Preparationand SIPS Panels Delivered
Palmetto Bluff: How to Finance and Build for Cash Flow
Palmetto Bluff: The Building of a Dream Home Begins
Custom Home Building in Palmetto Bluff
The Allure of Palmetto Bluff – Just 90 Minutes from Charleston
Palmetto Bluff: A Real Estate Investment in Vacation Rental
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