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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][quote=Anonymous]In our experience, I think it was a third, then a third, then the last third upon completion.[/quote] Yes agree, 50% is way too much up front. I would rewrite the contract to be 10% at starting, then equal amounts after certain completion milestones are met. Make sure the last payment is substantial, like . That will motivate the contractor to finish the job. The money is your only leverage. Also, if the contractor needs your cash to buy materialz, he may have cash flow issues. Dont be surprised if he doesnt do any work for you after taking your 50% initial payment.[/quote]
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