Are you worried about making a remodeling misstep by signing the wrong dotted line? Save yourself remodeling headaches and significant costs by familiarizing yourself with three typical construction contracts. The cost-plus model calls for the homeowner to pay a contractor for expenses, plus an additional amount for profit. Homeowners with budget constraints may not prefer such an ambiguous contract. A second contract type is the time and materials agreement. Homeowners who want a high degree of control over every expense prefer this contract. Finally, the fixed price contracts may be a good choice if you want to minimize creeping budget, and sliding work schedules.
Building solutions: Understand possible costs before signing a remodeling contract | The Coloradoan | coloradoan.com