Glossary of Construction and Contracting Terms
Remodeling Contractor Maryland explains commonly used jargon in the construction field
Competitive Bid Construction:
Competitive Bidding is when multiple contractors will provide limited bid proposals in a prequalified situation, and the best bid will be chosen to complete the construction project. This is the most popular method of contract construction.
Cost / Plus Construction:
Cost / Plus is a type of construction that has no fixed contract price with the possible exception of a “not to exceed” ceiling price.
A design budget is a range of likely project costs that is within the budget of the homeowner.
Design / Build Construction:
A Design / Build is a type of construction process in which the design and building phases of the project are both contracted by a single contractor.
See Historic Restoration.
A historic restoration is a construction project that looks to restore or recreate the preexisting and/or original features of a historic home or building.
Home remodeling is the process of renovating or making additions to one’s home.
The initial consultation is the first step in the construction process where we will discuss the specifics of your project, including time frame, budget, and other options.
Negotiated Contracts Construction:
Negotiated Contracts is a hybrid or combination of construction methods whereby the final construction documents and scope of work are modified because of budget restrictions.
A vertical renovation is used when additional living space is requested, but there is no additional space on the property. Instead, a second story is added to the home.