Dave Wilkes is president and CEO of the Building Industry and Land Development Association (BILD), the voice of the homebuilding, land development and professional renovation industry in the GTA. For the latest industry news and new home data, visit www.bildgta.ca.
If you are gathering information for your upcoming home renovation project, you may have learned that you should sign a written contract with your renovation professional. A contract helps to clarify roles, responsibilities and expectations and protects both you and the renovator. But did you know there are different types of renovation contracts?
Depending on the nature, duration and potential cost of a project, a renovator may propose one of three common types of contracts: the traditional, lump-sum contract; the design-build contract; or the construction management contract.
With a traditional, lump-sum contract, the home owner first works with a designer to develop what the renovation will look like. When the
