There are two different contracts that you can choose from when you get to hire a home builder. These contracts, fixed price and the cost-plus contract or agreement, will determine the rate of the home builder in Elgin in your housing project. A fixed rate contract comes with a paragraph which has a fixed suggested dollar amount for constructing the house. “Fixed price” calls for additional arguments within the contract to clear up different goods that can be or will not be included in the charge. Elgin home builders usually prefer this kind of contract for small housing projects. A cost-plus agreement, on the other hand, denotes the portion that the home builder gets for constructing the house. This agreement can give a home builder a percentage of the buying price of supplies and labor. You can expect to pay the home builder's cost along with the percentage of markup approved in the arrangement. It can be reasonable for you to get reports of accounts and invoices paid for by the home builder on every occasion he gives you a statement.