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Cost Plus vs Fixed Price (Lump Sum) Construction Contracts Explained

The two most common construction contracts are the Cost Plus and Lump Sum models. At Nelson Construction & Renovations in Clearwater, FL we offer both, but it really depends on the project and the client. In order to know which one is best suited for your project, you have to understand the pros and cons of each and how they will ultimately benefit your build. If you are interested in staying within a tight budget and keeping costs to a more predictable range, then a Lump Sum or "Fixed Price" model is probably best. But if you like to be very involved in the details of your project, including the purchases and accounting, then a Cost Plus model will give you that flexibility. Watch our full video to learn which system will benefit your home renovation or construction project so you can make a more informed choice with your home builder. For more information about Nelson Construction, visit our website at: https://nelsoncr.com #nelsonconstruction #costplus #lumpsum #fixedprice #renovation #renovationproject #constructioneducation