The biggest difference is the limitations. You're confined to the products the DB contractor has in his showroom. What if they don't have the cabinets you really want? Add. What if they don't have the tile you really want? Add. Windows, doors, trim, countertops.....you name it.........anything they don't have is going to be an add. And we haven't even begun to discuss the "hidden" issues...........
As both an Architectural Designer / Project Manager and GC, I can tell you, my vote every time would be a Design - Bid process. I've known and worked with some excellent DB Contractors and for some projects it's an excellent method. But I don't think anything can beat a completely detailed and designed package (translation: finishes, equipment, materials, etc.,, etc.) that is bid out for the following reasons:
1. There are no unanswered items. Everyone is bidding the same thing. Materials, quality, fixtures, finishes, equipment, etc., etc..
2. A competent and knowledgeable designer (Architect or RD) will be able to investigate existing conditions that will be involved in the renovation and the new work that could have major impacts on the cost Ii.e. deficient structure, soils, plumbing, electrical service, etc., etc.).
3. You're right......this is a major investment, why would you limit yourself with somebody else's idea of products (in their showroom) that make up good design. For tract homes that's fine.......but do you really want a tract home finish?
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steps going into woods toward creek at 1018
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