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Architectural Detail Experts | A Blog by Worthington Millwork

Construction Contracts: What to Know About Estimates vs. Bids

Posted by Holli McRae on 6/1/16 2:32 PM

When planning a home remodeling or new construction project, one of the first things homeowners usually want to know is how much the work will cost. Part of asking about cost is not just defining what the work will be but also knowing what form you would like the contract to take — fixed price (also known as a bid) or time and materials (also known as cost plus or estimate of cost). Understanding the subtleties of these contract forms will help you decide which is right for you.
 

 

Topics: DIY

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