Construction Budget

Definition

  • The total sum of money allocated for a particular purpose. In construction, the money that is set aside for building a structure.

Synonyms
builder budget, house budget, building budget

Related Terms and Acronyms

  • Holdback Definition,
    • A dollar amount that is withheld by the lender during construction of a home to ensure construction is satisfactory at every stage. The amount of hold-back is typically equivalent to the estimated cost to complete the construction.
  • Interim Financing Definition,
    • The availability of funds on a daily basis to assist a developer with financing for a construction project between advances made by the lender of the construction loan.
  • Quantum Meruit Definition,
    • Used in contract law it means "reasonable value of services."
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