One of the most important variables to consider when selecting a remodeling contractor are the details of the payment schedule. I'm referring to the amount of money requested by the contractor in order to complete the remodeling project. When the terms are set properly, the homeowner will maintain leverage throughout the remodel. For major projects such as a room addition, basement finish, or large outdoor deck it is important for the finished product to live up to what was promised by the remodeling contractor. A payment breakdown will not be the same for every project. On some of our smaller jobs we may not require any payment until the project has been completed in it's entirety.

On a typical basement finish, we will require a 30% deposit at the start of the project. 30% upon completion of Rough-In inspection, 30% upon substantial completion of project, and the remaining 10% upon completion of all punch list items.

When we are taking on projects as the deck builder, we require a 50% deposit upon dropping the materials. The other 50% is paid upon completion of the project.

One other thing to consider as the homeowner is to make sure and ask for a copy of the Building Inspection results. We usually provide our clients with a copy via email. Individual projects will definitely vary as to how deposits should be dispersed. Just make sure you have the opportunity to approve or sign-off on the work, before paying the contractor in full.