Hello Cecil, NO !! monies should change hands till the extension is built up to floor height and then the payment will be based on the work carried out. I would then suggest a payment when the roof is on and the finale on completion. I strongly suggest your quote includes materials how els will you know the full cost. I would also keep 5% back from the last payment for 3/6 months. Make sure all this goes in your contract. Regards Michael
I would not pay anything up front unless you are 100% sure that the trades person is trustworthy and will do a good job. This said though, stage payments throughout the job is fine. Ask the builder to itemise the cost for each stage of the build then pay as soon as each one is completed and has satisfied building control. This way the builder can at least pay for the materials he has used for that stage of the build. For example, once the foundation and over site has been put in, then once the wall plate is on, then the roof etc. Always keep about 10% of the final bill till all completion certificates have been awarded and you are happy with the work. Ask what guarantees the builder gives in case anything does go wrong, have them in writing.
Dont pay anything up front 25% after about a week depending on progress Then whatever you are comfortable with Any good builder will allow for everything inc materials unless you change things
Personally as I am self employed and do not have a large cash flow I would ask for payment of the materials when they arrive on sight, and labour payment at the end of the job. If a building company does the work I would not expect you to be asked for any money until completion of the work to your satisfaction.
Dear Cecil, You will no doubt get a lot of answeres that differ on this one. The point that needs to be raised is that there are trust issues on both sides. You are nervous about handing over a large sum to a builder and a builder is nervous about laying out a large cost prior to payment. There are bad builders that can not complete work but equally there are bad customers that do not pay. many builders are concerned that the customer does not pay any or part of quoted price. When selecting your builder you should firstly look at previous work carried out along with testimonials. The builder can either display these on their website or they can take them with them on the appointment made. If you are still not convinced ask if you can contact a couple of his previous clients or go and see the previous work. The quote should include all materials as a good builder should know exactly how much and what is required prior to quoting. It should also have a labour content as the builder should also know his costs and have a schedule worked out. It is not allways neccessary for these costs to be quoted seperately and can be quoted as a lump sum with or without VAT. From your meetings, timely replies, detail of quote and proffesional confidence of the builder you should be able to choose who you want. From that moment on there should then be a level of mutual trust between you both. This is what gives you the confidence to pay the deposit required and the builder to lay out on materials and labour. If you do not pay a deposit, do you expect the builder to extend you credit without the required credit checks you would expect from any other organisation? The answer should be no. I operate on a deposit & stage payment basis for every job. I charge anything from a 20% to 50% deposit depending on the size / price of the job (I would think anything from 20% - 30% on an extension). Iwill then subtract a 10% snag payment due when all work is complete to your satisfaction. The rest is then divided equaly into the number of weeks we expect to be on the job. If we have delays in progress as would be explained to you at the time through regular updates then I would delay a stage payments. I hope this helps and good luck with your planned works. Kind regards Gary
Nick shares his story of finding local tradespeople in his new area.
