Core terms

Allowance

Core terms · definition

A budgeted dollar figure placeholder in the contract for an item not yet selected (e.g., tile, fixtures). If your final selection costs more than the allowance, you pay the difference — scrutinize low allowances in bids.

Source: NAHB — National Association of Home Builders

Where this comes up

  • Contract

    The legally binding agreement between owner and contractor that defines scope, price, schedule, and responsibilities. A remodel should ne…

  • Apprentice

    A trade worker learning a craft through a structured program of paid on-the-job training and classroom instruction under journeymen, the…

  • Architect of Record

    The licensed architect legally responsible for the design documents submitted for permit, certifying the design meets applicable codes an…

  • As-Built Drawings

    Updated drawings that reflect the project exactly as constructed, including all field changes — invaluable for future remodels and locati…

  • Beam

    A primary horizontal member that carries loads from joists or framing across a span to posts or walls. Opening up a floor plan usually me…

  • Beam Pocket

    The recess in a wall or foundation that receives and bears the end of a beam. Cutting in new beam pockets is part of the cost when openin…

  • Bid

    A contractor's formal price proposal for a defined scope of work. Always compare multiple bids on the same written scope so you are compa…

  • Bond

    A surety bond is a guarantee from a third party that the contractor will complete the work (performance bond) or pay subs and suppliers (…

Where this term fits in a remodel

The pillar guides set terms like this one in context — what the work involves, what drives its cost, and where it sits in the sequence of a project. Pricing a specific house takes a defined scope and an on-site assessment.

Remodeling guides → Contact the publisher →