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Question DetailsAsked on 2/22/2013

What payment terms are reasonable for a kitchen or bathroom remodeling?

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3 Answers

1
Vote

That depends on what you negotiate with the contractor. For example, it would not be fair to expect the contractor to buy all the materials needed, without paying for the materials in advance. Then there should be another percentage paid at start-up; another at a specified point of completion, and the rest at the end. The percentages could vary quite a bit between one contractor and another. Do get at least two, preferably three bids. And do have some very specific ideas about what you would like to have done, before you ask for bids. A competent contractor will usually make suggestions based on your ideas. It should be an inter-active, friendly business relationship. If you and the contractor start out not liking one another, that probably won't change, so it's best to choose someone else. Neither of you will benefit if you decide to make major changes in the project, or nitpick all the way through.

Answered 4 years ago by Oleron

0
Votes

Oleron gave good advice. I generally charge 50% up front to schedule and another 25% at some specified point (such as plumbing rough-in completion) with the remaining at completion. However, on larger jobs or one's with higher priced materials I sometimes collect a certain amount to schedule, another draw at the start of day 1 with material delivery, another at a specified point in the process, and the rest at completion. It really depends on the job and what I'll have to pay out at the various points of the job. Don't expect your contractor to float the cost of the job. It's ok for him to float a little of it out of his pocket for a day or two until the next pay point but that's it. Remember, the more he has out of his pocket or on credit, the more it will cost you so he can cover those additional costs. If he's experienced and fair, the draws should aline with his spending. He won't make his money until the end.

Todd Shell
Todd's Home Services
San Antonio, TX

Answered 4 years ago by Todd's Home Services

0
Votes

Our standard is 1/3 down, a progress of draw of 1/3 triggerd at a specific point the the remodel and remainder upon completion. However like Todd said it depends on the job, you can have a kitchen for example that has $30,000 in cabinets and the total job is $50,000 in that case we would either request enough to cover ordering the cabinets or allow them to pay for the cabinets directly.

Answered 4 years ago by hockeycoachtim




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