Building Terms and Definitions:

Contractor - a person who contracts to supply certain materials or do certain work for a stipulated sum especially in the building trade.

Self-contractor - when the future homeowner oversees and manages the building of his/her own home.

Subcontractor - a person or a company that assumes by secondary contract some or all of the obligations of the primary contractor.

Cost/plus - is a compensation method in which the contractor charges a percentage markup on all materials and labor used in the construction of your home.

Turnkey - is a compensation method in which the contractor supplies a set bid for the house and provides allowances for specific areas. Assuming you do not choose materials which fall outside of the allowance or make revisions to the plan during construction, your bid will remain firm.