The most important point to remember when working with a contractor is that you don’t need to pay them in full upfront for paver restoration. There are even caps set by states on how much you need to pay a contractor upfront. Some contractors are also willing to negotiate the down payment with the homeowners.
The big question now is this; how much should you pay your contractor as down payment? How much you pay your contractor in advance will depend on the contractor you are working with and the scope of the project. You, however, need to go into this conversation with some knowledge on how much you should pay upfront.
Do you have to pay a deposit?
In order for them to add you to their schedule for paver restoration, most contractors will require that you pay a down payment. The purpose of a down payment is to show commitment on your part and also to ensure the project continues to move forward after they buy the materials. Reputable service providers are willing to negotiate the amount of down payment you pay. This includes the payment terms. It is important that you have this discussion with your contractor before greenlighting them to work on your pavers.
What is a reasonable down payment?
There is a cap set by the state on how much you should pay as down payment. The limit ranges from 10% to 50%. Take time to look into what the regulations in your area are before you start a project. The objective is for the down payment to protect both parties. If you live in a state that doesn’t have down payment limitations, the cap will be between 10% and 25% of the total cost of the project.
Do you need to pay throughout the project?
A contractor will discuss his terms on how they approach billing issues. In most cases, you will need to put a down payment at the start of the project. The balance is then paid at the end of the project. There may be some exceptions. Some contractors, for example, may request for additional payment before the project is done. For example, when the project is halfway done and you request for some upgrades or additions, the contractor may ask for additional payment to cover the cost of the unplanned materials. For long term projects, the contractor can ask that you pay a percentage of the total estimate throughout the project.
To avoid surprises in paver restoration, it is good to sit down with a contractor and discuss the terms. You also need to include payment schedule and method of payment. That way there will be no surprises along the way.