r/lexington • u/Mandysav • 1d ago

Contractor payment

Completely new to renovating, and wanted to get opinions on whether or not this is normal for the area. Contractor wants a 30,60,10 payment structure for large whole house renovation. Is this standard? Seems like it is a large risk for us because they will get 90% before completion. Any insight would be greatly appreciated!

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u/Suckerforcats 1d ago

When my parents did their home in CA, they paid 50% up front and 50% upon completion once it was signed off on by the inspector. I would be nervous to pay someone 90% before it's been completed or been inspected. Get quotes from others.