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We've not done an extension, but we have done some heafty work on a couple of places now.
Our rule of thumb, stolen from architect friends, is that anyone who can't float themselves for materials and labour for the first 4 weeks doesn't get the work.So yes...
Plan out your milestones.
Something like...
Ground work complete - 20%
Structure topped out - 20%
First fix - 20%
Second fix and fitout - 20%
Snag list cleared, certification and paperwork in place, job signed off - 20%You need to agree clear definitions of these stages with your main contractor before you start.
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From what I've read he shouldn't ask for a deposit, first payment on the day groundworks begin and then regular instalments when certain milestones are met (bricks laid, roof on, etc).
And final payment some time after completion / independent inspection.
[edit] and what wjprince wrote
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user16171
NotThamesWater
@inchpincher
We've had a quote through for our extension that we're happy with, any tips on approaching a payment plan with the builder?
From what I've read he shouldn't ask for a deposit, first payment on the day groundworks begin and then regular instalments when certain milestones are met (bricks laid, roof on, etc).
We've already had a detailed breakdown of what's included and more importantly what isn't and he's come very highly recommended.