Core terms

Retainage

Core terms · definition

A percentage of each payment (often 5–10%) the owner withholds until the project is satisfactorily completed, providing leverage to ensure the job is finished and punch-listed.

Source: Investopedia — Retainage

  • RFI (Request for Information)

    A formal written question from the builder to the designer or owner to clarify drawings or specs before proceeding. RFIs create a paper t…

  • Punch List

    The final list of incomplete or deficient items the contractor must correct before the job is considered done and final payment is releas…

  • Rough Opening

    The framed gap left in a wall to receive a window, door, or unit, sized slightly larger than the product to allow shimming and squaring d…

  • Project Manager (PM)

    The person who plans, coordinates, and oversees the project day to day — schedule, budget, subs, and communication with the owner. On sma…

  • Rough-In

    The stage where plumbing, electrical, and HVAC lines are run inside open walls and floors before insulation and drywall. Rough-in must pa…

  • Primer

    A preparatory coating that seals the surface and helps the finish coat adhere and cover evenly. Skipping primer over new drywall or stain…

  • Scaffold

    A temporary elevated work platform system. Proper scaffolding is a regulated safety item on multi-story exterior and high-ceiling interio…

  • Plywood

    An engineered panel of thin wood veneers glued in cross-grain layers for strength and stability. Preferred over OSB for cabinet boxes and…

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.

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