Glossary · Construction

Bid (custom home)

A bid is a builder's written estimate of what it will cost to build a specific design and specification.

A useful bid is line-itemized: site work, foundation, framing, mechanicals, finishes, allowances, and builder fee are separable. A single lump-sum number is not a bid you can negotiate.

Comparable bids require a common specification. If two builders price two different specs, you're not comparing builders — you're comparing assumptions.

Related terms

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