Suggested Payment Schedule for Extension

theGrinch

We have a single storey extension starting in 4 weeks.

The builders have asked us for our suggestion on payment schedule - any thoughts on this and terms of the retention?

My initial thoughts this evening were

20% excavate and pour the footings
35% structure watertight - walls, roof, skylights and doors fitted
25% completion of second fix and patio
10% retention for walk through and snagging

Cisco001

Ask the builder to break down the quote. Pay the item when it finish

theGrinch

Labour only, estimated time 6 to 8 weeks

Silver-Surfer_2

theGrinch wrote: »

Labour only, estimated time 6 to 8 weeks

In that case pay them at the end of each week for the work they've done.

theGrinch

Silver-Surfer wrote: »

In that case pay them at the end of each week for the work they've done.

I was thinking payment on completion of stages - but trying to logic stages out - any suggestions please?

mishkanorman

Ours was like this,

Deposit and stage 1 of build to dpc (this included demolition) £4500
Second stage brickwork and blockwork up to top of doorway £3500
Stage 3 wall plate level £1000
Stage 4 Roof trusses, felt, batton, windows water tight £5000
Stage 5 Plaster boarding, plaster, screed floors £3315
Stage 6 completion £1000

Total £18,315.00

We pay each stage before they start, the final amount is for snagging.


Why does your builder not have a standard contract for this sort of thing ?

EssexExile

I'm sure that if you come up with a schedule that is unacceptable to the builder he'll let you know.

We paid three equal payments in arrears, so they didn't get the last third until everything was completed. We'd never employed builders before, they suggested this & it seemed fair to us.

MX5huggy

theGrinch wrote: »

We have a single storey extension starting in 4 weeks.

The builders have asked us for our suggestion on payment schedule - any thoughts on this and terms of the retention?

My initial thoughts this evening were

20% excavate and pour the footings
35% structure watertight - walls, roof, skylights and doors fitted
25% completion of second fix and patio
10% retention for walk through and snagging

If you get them to go with that then your laughing all the way to the pub with the missing 10%.

In the past I've done 25% for each of footings to DPC, walls up to wall plate, water tight (roof on Windows in) and finished.