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Determining Contractor Cost Print E-mail

When contracting the construction of your new steel reinforced concrete dome, you will most likely use a residential building contractor who will work with you in one of four ways:

1. Bid or Estimated Price: Your contractor takes the set of plans, bids out all phases of the project to subcontractors, and provides you with a total cost to build your home (gross dollar total or total cost per square foot). In this case, you place all responsibility for the project in your contractor’s hands.

2. Cost Plus Flat Fee: Contractor does the same as described in the first version, but adds a flat fee dollar amount to cover for his/her involvement in the project. This allows you more participation in the building process, and covers your contractor for their time.

3. Cost Plus Percentage Fee (Cost Plus Contract): If you anticipate a good deal of participation in the building process, including changing and/or upgrading as you proceed through construction, many contractors will bill you a percentage fee based on the completed cost of the home. It is a way to cover you and the contractor when you make changes not anticipated during planning and bidding phases.

4. Fee Percentage Contract: When you wish to be extremely active in all aspects of construction and material selection, your contractor will offer you a fee percentage contract, or a percent of the total cost of building your home, no matter what you decide throughout the process.

By clearly defining the level of participation you wish to have in the construction process, and you select a contractor with a suitable program, chances are you will have an enjoyable building experience.


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