For anyone who’s ever gone over budget on a custom build, here’s a story that will really put things in perspective. demonstrating how not getting a process right and not having all parties on the same page can cause catastrophic cost blow out.
In 1906 the Rockefeller family decided to build the dream custom built home in Pocantico Hill in Westchester Country New York, the vast estate occupies an area of 1,380 hectares (3,410 acres) . What subsequently unfolded are the ten of the biggest mistakes you can make on a build that ultimately caused this home to blow out from its original budget of $250,000 US to $500,000 on its first build!
That’s $12m in today’s money
So what did they do after a family disagreement? He pulled most of it down and started again in 1912.
Rockefeller Snr took control and created one of the greatest custom built homes in the world. The redesign took the home from two levels to four levels.
The new designed home cost the family $1million... 4 times over budget.
Incredibly the garden cost even more. At $1.35million it was 45 times over budget.
Kykuit’s garden was designed by the same company who created Manhattan's Central Park. It had a 35 tonne Greek statue that cost $70K and needed every horse in the town to pull it up the hill.
The terraced gardens have all sorts of styles from Japanese to Italian and include grand staircases, teahouses, fountains, temples and an incredible semicircular rose garden
The stonemason's wages at the time was 20c per hour, and most took home $20 per week.
There was no expense spared, and in fact Rockefeller senior was a tech head. He loved gadgets and this home had electric lighting! Shower plumbing with advanced rose sets like we see in today's custom design homes.
In 1976 the home was designated a national Historic Landmark. In 1979 1/3 of the of the estate was given to the National trust for preservation.
Today the home is open to the public. If you find yourself in the US looking for some inspiration for your new home, this is a must visit.
Tristan Kirkham | Managing Director
Tristan has managed some of Australia’s major building companies, both project and private. His committment to customer service and providing market leading communication product for the home building industry has led to a role as regular Judge in the HIA Green Smart, HIA Kitchen & Bathroom Awards and the major Housing Awards. Winning multiple awards throughout his career in the housing industry, he is dedicated to improving the industry standards and practices. Tristan's vision is to provide a better way to build homes for all parties.
WA Dwelling commencements have had the biggest fall since 1985. WA is…
With so many builders to choose from, choosing the right Perth…
A green title is the common name given to the traditional block of…
Understanding if and how to subdivide your property for either Survey…
The finishing touches to building a new custom home can sometimes…