When you’re planning a kitchen or bathroom remodel in Portsmouth, NH, one of the most critical decisions you’ll face is how your contractor will bill you. Your choice in this area can significantly impact not only your budget but also your overall experience during the remodel.
There are primarily two methods of charging for a service: a variable cost method, ie. Time & Materials or Cost-Plus. Or, a guaranteed cost method, like the aptly named Fixed Cost (also called Fixed Price). To avoid surprises, it is important to know which method your contractor will be using.
Let’s explore the different contract types—Time & Materials, Cost-Plus, and Fixed Cost—and help you decide which will be the best fit for your project.