$$ 1st Payment ?

[hui2426 0]

How much do we pay upon signing the contract? Is it 10% or just a deposit ? ( Assume reno starts 3 mths later)

[Chunky Monkey 2]

I didn't pay my contractor a cent until the day he arrived at my house to lay the floor protection, and also pray to 'Tua Pek Kong" to ask for blessings to start reno.

I paid him 35% as per contract.

[Cindy-Monkeybone 1]

The std pratice is 10-40-40-10

[Chunky Monkey 2]

The std pratice is 10-40-40-10

Is this standard only applicable to HDB?

[zirhk3355 1]

Is this standard only applicable to HDB?

I think pte ppty is more - by the time carpentry starts you would have paid up like 90% already...

[Chunky Monkey 2]

I think pte ppty is more - by the time carpentry starts you would have paid up like 90% already...

I just paid another 15% today. So total, it's already 50% and tiling has just started.

[zirhk3355 1]

I just paid another 15% today. So total, it's already 50% and tiling has just started.

Yeah I think that's usually the case for pte ppty - nothing start yet but already 50% out of pocket...abit insecure, if I may comment...

[Chunky Monkey 2]

Yeah I think that's usually the case for pte ppty - nothing start yet but already 50% out of pocket...abit insecure, if I may comment...

I think it's a function of the price of the reno, and with private properties, costs can escalate. But yes, I agree. Contractors tend to be more insecure with private home renos. Kia Si is what I call them.

[zirhk3355 1]

I think it's a function of the price of the reno, and with private properties, costs can escalate. But yes, I agree. Contractors tend to be more insecure with private home renos. Kia Si is what I call them.

Huh? No no, I meant insecure on OUR side, ie if the contractors 'run road' we die lor...

The contractors are just taking adv of the assumption that pte ppty people are very rich and can 'chop', so quotation also high high, payment terms also not very fair...

[Chunky Monkey 2]

Oh I see what you mean. Sorry about that misunderstanding. Well, that's the risk private home owners have to take. And that's why contractor selection has to be really careful, and where possible, check the credentials of the contractor. My neighbour paid one guy to do his landscaping for him, and paid upfront, thinking it was a straight forward job. That guy disappeared. Disgusting.

[waileong 0]

It's up to you to negotiate terms. I got my contractor to follow standard Radac terms.

[Cindy-Monkeybone 1]

It's up to you to negotiate terms. I got my contractor to follow standard Radac terms.

What is Radac std term ?

[hui2426 0]

It's up to you to negotiate terms. I got my contractor to follow standard Radac terms.

What abt ID? Also pay 10% upon signing? or only deposit?

[arcturuz 0]

mine is HDB

i got a quote where the payment term is

30% 40% 25% 5%

abit insecure to pay 70% just for materials to come in... shld i nego to 10 40 40 10?

is there any site to show RADAC's standard progressive payment?

[Cindy-Monkeybone 1]

mine is HDB

i got a quote where the payment term is

30% 40% 25% 5%

abit insecure to pay 70% just for materials to come in... shld i nego to 10 40 40 10?

is there any site to show RADAC's standard progressive payment?

Paying 30% for the 1st payment before any work done is too high.

Please negotiate with them.

I am planning to pay next 40% on the day when the wet work/ material arrive my place.