Congratulations – you’ve decided to renovate! If it’s a decent-size job you’ll have plans drawn up, your DA approved and you’ll probably be getting a couple of builders quotes. Ideally, these will be builders that friends or colleagues or maybe your designer has recommended. As you’re navigating your way through this strange new world you’ll be coming across lots of new words and phrases that you may not of used before. Two that you’ll definitely be hearing are “fixed price” and “cost plus” and they’re to do with how the builder charges for his work.
So, what’s the difference?