Cristal writes: If the Contractor Bid $300,000 to build my house and then it ends up costing less to build the house do I still pay the $300,000 that I signed the contract for? Steve Bliss, of BuildingAdvisor.com responds: The simple answer is yes -- you'll pay the full contract amount assuming this was a standard fixed-price competitive bid. There are some situations … [Read more...] about Final Cost Is Less Than Bid
Finance
Should I Pay for a Remodeling Estimate?
Thom asks: Should I pay for a cost estimate? This is a remodel project of a kitchen and three baths. Steve Bliss of BuildingAdvisor.com responds: While most contractors advertise "Free Estimates," some contractors charge a fee for estimates – especially higher-end contractors who often spend a lot of time preparing detailed estimates, plans, and specifications for jobs they … [Read more...] about Should I Pay for a Remodeling Estimate?
Allowances — What’s Fair? Also Fixed-Price vs. Cost-Plus Bids
Dawn writes: I need help! I am a homeowner who is doing a major remodel. I should say up front that I really like the GC we have picked... good reputation and references, been around forever. He has been very fair about working with us to change wording in our potential contract so that both of us feel like our interests are covered, etc. We have not signed a contract with … [Read more...] about Allowances — What’s Fair? Also Fixed-Price vs. Cost-Plus Bids
Buy a Land-House Package or Hire a Builder?
Nadia writes: Hi, I'm planning to have a home built in an established subdivision with a couple of vacant lots. I have the option of either buying the lot and then building, or having the developer build and then buying the entire land-home package. I'm leaning towards doing the land-home package, but I want to have control over the process. I want to be able to make site … [Read more...] about Buy a Land-House Package or Hire a Builder?