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View Poll Results: What would you be willing to do? | |||
I would be willing to pay 51-100% down for a home remodeling/repair project. | 0 | 0% | |
I would be willing to pay 26-50% down for a home remodeling/repair project. | 3 | 8.11% | |
i would be willing to pay up to 10-25% for a home remodeling/repair project | 10 | 27.03% | |
I would be willing to pay upfront for materials only, regardless of percentage of the project's costs. | 14 | 37.84% | |
I am not willing to make a down payment on these types of projects | 9 | 24.32% | |
Other | 1 | 2.70% | |
Multiple Choice Poll. Voters: 37. You may not vote on this poll |
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05-17-2023, 12:06 PM | #16 |
MVP
Join Date: Aug 2000
Location: nemo
Casino cash: $1499900
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Anyone who does work for us, I know personally.
I’ve never paid anything down. But that doesn’t mean I wouldn’t if they asked me. I will buy materials myself. sec
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05-17-2023, 01:14 PM | #17 | |
Supporter
Join Date: May 2005
Location: Who knows?
Casino cash: $2735884
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Quote:
I charge what the material down is, and tell my customers that they will not get on my schedule or have material ordered until the check is received. Last edited by notorious; 05-17-2023 at 01:20 PM.. |
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05-17-2023, 01:28 PM | #18 |
Supporter
Join Date: Jan 2004
Location: Liberty
Casino cash: $1461251
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Just had the bathroom remodeled. 25% down, balance on completion.
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Posts: 16,766
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05-17-2023, 01:33 PM | #19 |
Just a li'l Evel
Join Date: Sep 2005
Location: Bald. Goatee. Jorts.
Casino cash: $5297131
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We are getting hammered on home improvement this year due to all the rains.
New roof and gutters: $20,000 Crawl space sump pump, trench and encapsulation: $12-15,000 New HVAC Ducting under the house to replace rat chewn ducts.$8,000. Termite tent and wood siding repair $6,000 Nearly 50 grand and not even anything really new or remodeled. I'm crushed. I am gonna do the ducts myself and some of the sump pump stuff. Save about 15 grand there. |
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05-17-2023, 01:45 PM | #20 |
What's up braj?
Join Date: Jun 2008
Location: Placencia, Belize
Casino cash: $1928320
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Shit's way too expensive these days to get it contracted out. Finished my basement last winter/spring for under $15k. My neighbor got it done professionally for $50k. I didn't know dick about shit going into it and honestly you can't tell the difference between the work done in the basement and the upstairs of the house. Only downside is it took 5 months to do versus probably the week and a half a contractor could have done it in.
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05-17-2023, 03:51 PM | #21 |
Politically Incorrect
Join Date: Feb 2009
Location: Scottsdale, AZ
Casino cash: $2581110
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Jerking off while holding a screwdriver and wearing a tool belt isn't a renovation project.
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05-17-2023, 03:53 PM | #22 | |
In Search of a Life
Join Date: Mar 2006
Casino cash: $3749900
VARSITY
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05-17-2023, 03:58 PM | #23 |
Emporer of Mongo
Join Date: Apr 2010
Location: Milky Way
Casino cash: $2777556
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there are usually state by state laws limiting the amount of the down payment to a contractor. 10% is what it is where I live. So the max I would pay down is 10%. Then, at certain stages.. more can be requested as the job proceeds. It should be pretty clear in the contract.
Check the laws in your state. If the contractor is doing something shady or different than the law, avoid.
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05-17-2023, 04:07 PM | #24 | |
Emporer of Mongo
Join Date: Apr 2010
Location: Milky Way
Casino cash: $2777556
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Quote:
by the way - roof, windows and siding are not cosmetic IMO
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05-17-2023, 04:55 PM | #25 |
What's up braj?
Join Date: Jun 2008
Location: Placencia, Belize
Casino cash: $1928320
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05-17-2023, 06:55 PM | #26 |
The Lurkiest
Join Date: Aug 2000
Location: Boise,ID
Casino cash: $2384188
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I'm a contractor I require 30% or materials. If you want to purchase materials and save any upcharge I do not ask for any upfront.
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1 0 |
05-17-2023, 07:13 PM | #27 |
fides quaerens intellectum
Join Date: Oct 2003
Location: United States
Casino cash: $8330900
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Yeah, that was poorly worded. I wanted to be clear that this is not an insurance-covered project. It’s just time to upgrade my windows. I got two quotes. One does not require any downpayment but is approximately twice as much as the other company that requires a 50% down and 25% “at framing.” I so badly hate the idea of paying so much upfront that I asked the second guy if he would drop that requirement in consideration of an additional payment on the backend and he said he was not willing to carry the costs of the materials, which is approximately 45% of the project.
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05-17-2023, 07:34 PM | #28 |
Bolton gonna knock you out
Join Date: Mar 2014
Location: Free Vybz Kartel
Casino cash: $2522394
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Every company I’ve worked for doing remodeling has gotten a downpayment. They have to purchase the materials, and pay their employees. It’s pretty standard practice here in Florida.
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05-17-2023, 10:00 PM | #29 |
MVP
Join Date: Oct 2010
Casino cash: $1979653
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As an ex-GC, I'd say don't put any money down. The only way I would be willing to put any money down is if I could pay the supply house directly for the materials and I'd only do it for a smaller company/group of a few guys. Also those materials would be at my home, so they couldn't just take them back and get that money you spent.
A couple of problems can come up when you pay people beforehand. The main one is you lose your money and nothing gets done. Another problem you can run into when paying guys before they finish is they lose the incentive to continue/finish the work, so they either put you off because they already got your money or they make you wait and your project doesn't get finished for a year while they half ass it and show up a couple times a month. |
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05-17-2023, 10:03 PM | #30 | |
MVP
Join Date: Oct 2010
Casino cash: $1979653
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