Renovations are complex. Billing shouldn’t be.
At Collaborative Build Contracting, we offer two contract styles: Cost Plus and Fixed Price (aka Quotes), each designed to match different project needs. Here’s a straightforward breakdown to help you figure out which might work best for you.
Cost Plus Contracts
With a Cost Plus contract, you pay for the actual work completed. No more, no less.
How it works:
- You pay a deposit to schedule the work
- Monthly invoices detail labour, materials, subcontractors, and related costs
- Full transparency: Means you see exactly where every dollar goes
This is ideal for:
- Larger renovations
- Older homes with potential hidden surprises
- Projects where scope may shift as work progresses
The upside? Built-in flexibility. When priorities change or unexpected discoveries happen (and they often do), this structure adapts with you.
Fixed Price Contracts
Fixed Price contracts, or Quotes, give you a set cost before construction begins, perfect when the scope is well-defined and surprises are unlikely.
What’s included:
- A clearly outlined scope of work
- Defined inclusions
- Staged payment schedules based on project milestones
For smaller projects, payment is typically split 50/50 – a deposit to schedule the work and the remainder upon completion. Larger projects use progress payments tied to construction phases. The upside? Predictability. You know your number going in.
So, Which One’s Right for You?
Honestly? It depends. Some projects thrive with the adaptability of Cost Plus. Others call for the certainty of Fixed Price. There’s no pressure to decide on the spot. We’re happy to talk through both options and help you land on what feels right for your project, your budget, and your peace of mind. Either way, our approach stays the same: clear communication, transparent pricing, and work that supports your long-term vision for the space.
Curious which route might suit your project? Let’s chat.
