I received a contract from my architect that gives me the choice of two fee structures: hourly or a lump sum that reverts to hourly if architect fees fall outside of +/-10% of the lump sum.
I am kind of torn on which payment structure to choose.
The lump sum sounds almost like a gimmick even though it could potentially save money if the architect's fees are less than +10% of the lump sum. On the other hand, I could end up paying more if the architect's fees end up more than 10% below the lump sum.
Which method would you choose?
Thanks for any input