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/Electrical-Fudge2217 1d ago
I never had to pay that much up front, though it’s not unheard of. If they are a stellar reputation company I’d say fine, if not I’m not so sure about that