Planning a home renovation or have an upcoming consultation with interior remodeling contractors? You’ll inevitably encounter renovation terms you might not be familiar with. To help you get started on the planning phase for your home renovation, here’s a quick glossary of renovation terms every homeowner should know.
1. Allowance
When you go over your construction contract, you’ll notice an itemized breakdown of labor and material costs. If you haven’t decided on certain aspects of the project, your contractor will provide rough estimates for the price of materials and labor. These rough estimates are called allowances.
It’s standard practice to request quotes or estimates from a contractor. Some homeowners mistakenly think these two terms can be used interchangeably. However, there’s a difference between the two. Estimates, as the name suggests, are an educated guess about the project costs. Contractors usually give them during an on-site visit or a phone call. Estimates are aimed at giving you an idea of the costs, and can change as the details of the project are ironed out.
A quote, on the other hand, is fixed and more detailed. Quotes outline the total costs for the service being offered. Quotes are usually issued after an on-site visit. Make sure to go through the details of the quote carefully before signing a contract.
2. Change Order
A change order is a written document that details modifications to the original construction project, such as the schedule, scope or price, after work has begun. However, it’s best to avoid change orders if possible—they almost always result in increased project costs.
3. Cost Overrun & Underrun
Your remodeling project’s cost overrun and underrun refers to the difference between the original contract price and the final project cost, which includes change orders if there are any.
4. Design/Build Company
Design/build companies are a one-stop shop for all your remodeling needs. From the drafting of your home’s architectural design right down to the renovation work, a design/build company offers complete oversight over the interior renovation process.
5. General Contractor
General contractors usually supervise a remodeling project along with specialty contractors, i.e. carpenters and plumbers.
Which Company Should You Hire to Handle Your Renovation?
It boils down to your needs and preferences. If you want to maintain strict quality control throughout the renovation process, working with a design/build company instead of a general contractor will likely be a better choice. With only one company handling the renovation process, you can keep a closer eye on the progress and quality of your home renovation.
Let’s Start a Conversation!
DreamMaker Bath & Kitchen of Hollywood offers a wide range of professional interior home remodeling services. To get started with a no-obligation consultation, call us at (305) 925-5999 or leave us a message online! We serve homeowners in Hollywood, Aventura, Hallandale Beach, Golden Beach and Pembroke Pines, as well as the surrounding communities.
