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Reply to "A quick question for those that hired a contractor to do home renovations..."
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[quote=Anonymous]What is the downpayment percentage that the contractor required? Our contractor is telling us that he wants 50% up front (for us, this is $20K) before any work is done (but after the design phase) so that he can order all the materials. This is essentially the kitchen cabinets and counters, and some tile, and some materials to re-do a small guest bath. A 50% payment seems really high to me. (We will not have a construction loan, this is our liquid cash. Not sure that matters for this question.) [/quote]
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