builder finance
 

I'm getting a bathroom extension built. Need to as I became disabled
this year and cannot walk too well now. First time I have ever hired a
builder. How do I pay him?

I'm aware I should not pay the whole lot up
front but he will need the materials paying for and his own labour.
It is a 1.8M square extension on the end of the house.Tiled floor,
tiled walls, toilet, shower washbasin, radiator and light. Needs a
door knocking through from the kitchen

Any thoughts on how to split the payments?

builder finance
 

NEVER, NEVER pay anything up front. Most builders have at least 28 day credit accounts with their various suppliers. If your extension was being funded by a mortgage then your lender may only release funds in a phased process.. Such as completion of foundation, first storey, roof and so on. If you do not want to get into arguements with your builder then make sure any staged payments are agreed and on paper as part of the contract and use a surveyor to confirm that the work has been successfully carried out before any funds are released. Finally, do not be brow beaten with any sob story about cash flow problems that's their problem not yours.

Richard

builder finance
 

On Tue, 18 Aug 2015 05:32:39 -0700 (PDT), Tricky Dicky
wrote:

NEVER, NEVER pay anything up front. Most builders have at least 28 day credit accounts with their various suppliers. If your extension was being funded by a mortgage then your lender may only release funds in a phased process. Such as completion of foundation, first storey, roof and so on. If you do not want to get into arguements with your builder then make sure any staged payments are agreed and on paper as part of the contract and use a surveyor to confirm that the work has been successfully carried out before any funds are released. Finally, do not be brow beaten with any sob story about cash flow problems that's their problem not yours.

Richard

The builder is a neighbour. I do expect to buy the materials as they
are needed. No problems with that as long as I see the stuff delivered

builder finance
 

On 18/08/15 12:52, wrote:
I'm getting a bathroom extension built. Need to as I became disabled
this year and cannot walk too well now. First time I have ever hired a
builder. How do I pay him?

I'm aware I should not pay the whole lot up
front but he will need the materials paying for and his own labour.
It is a 1.8M square extension on the end of the house.Tiled floor,
tiled walls, toilet, shower washbasin, radiator and light. Needs a
door knocking through from the kitchen

Any thoughts on how to split the payments?


A reputable person will be happy with 2-3 stage payments. The last
payment for 50 or 33% of the total will be due when *everything* is
finished and you are happy.

Materials are usually either included (if he gets them on account) or
purchased separately.

Never ever pay in advance or weekly. That means he can wander off at the
last minute with loads of finishing work undone and no real incentive to
come back (I know this from a mate's unfortunate experience).

builder finance
 

wrote in message
...
On Tue, 18 Aug 2015 05:32:39 -0700 (PDT), Tricky Dicky
wrote:

NEVER, NEVER pay anything up front. Most builders have at least 28 day
credit accounts with their various suppliers. If your extension was being
funded by a mortgage then your lender may only release funds in a phased
process. Such as completion of foundation, first storey, roof and so on.
If you do not want to get into arguements with your builder then make sure
any staged payments are agreed and on paper as part of the contract and
use a surveyor to confirm that the work has been successfully carried out
before any funds are released. Finally, do not be brow beaten with any sob
story about cash flow problems that's their problem not yours.

Richard

The builder is a neighbour. I do expect to buy the materials as they
are needed. No problems with that as long as I see the stuff delivered


Then you have ignored the sensible reply you were given.



--
Adam

builder finance
 

"ARW" wrote in message ...

wrote in message
.. .
On Tue, 18 Aug 2015 05:32:39 -0700 (PDT), Tricky Dicky
wrote:

NEVER, NEVER pay anything up front. Most builders have at least 28 day
credit accounts with their various suppliers. If your extension was being
funded by a mortgage then your lender may only release funds in a phased
process. Such as completion of foundation, first storey, roof and so on.
If you do not want to get into arguements with your builder then make
sure any staged payments are agreed and on paper as part of the contract
and use a surveyor to confirm that the work has been successfully carried
out before any funds are released. Finally, do not be brow beaten with
any sob story about cash flow problems that's their problem not yours.

Richard

The builder is a neighbour. I do expect to buy the materials as they
are needed. No problems with that as long as I see the stuff delivered


Then you have ignored the sensible reply you were given.

+1 and the contract is even more important in this case.

builder finance
 

wrote in message ...

The builder is a neighbour.


In my opinion, on its own, this sounds a very poor reason to
choose a particular builder to build your extension.

Presumably you don't know him well enough to have already
asked him about payment.

Are there any other reasons why you chose him ?

Does he have a particularly good reputation ? For instance
has he been recommended to you by friends who've had work
done by him ? Or has he given you a list with the names and
addresses of satisfied clients of his, who you can contact ?

Otherwise the fact that he's a neighbour might suggest he'll
be using your extension as a convenient stop-gap close
to home, when there are any hold ups on his more distant
jobs. While on the other hand the fact that he's a
neighbour won't be a lot of use if he's working miles
away most of the time.


michael adams

....

builder finance
 

On Tuesday, 18 August 2015 14:27:55 UTC+1, wrote:

The builder is a neighbour.

recipe for trouble if being paid


NT

builder finance
 

In article ,
Tim Watts writes:
On 18/08/15 12:52, wrote:
I'm getting a bathroom extension built. Need to as I became disabled
this year and cannot walk too well now. First time I have ever hired a
builder. How do I pay him?

I'm aware I should not pay the whole lot up
front but he will need the materials paying for and his own labour.
It is a 1.8M square extension on the end of the house.Tiled floor,
tiled walls, toilet, shower washbasin, radiator and light. Needs a
door knocking through from the kitchen

Any thoughts on how to split the payments?


A reputable person will be happy with 2-3 stage payments. The last
payment for 50 or 33% of the total will be due when *everything* is
finished and you are happy.

Materials are usually either included (if he gets them on account) or
purchased separately.

Never ever pay in advance or weekly. That means he can wander off at the
last minute with loads of finishing work undone and no real incentive to
come back (I know this from a mate's unfortunate experience).

My parents had an ensuite loft extension built a few years ago.
The architect (for an extra fee which my parents thought well
worth it) defined when the staged payments would be and had to
sign off the progress for each one. Something like 10-15% was
withheld for 6 months after the work finished and paid only when
any snagging issues during that period were fixed. There were
also penalties in the contract for overrunning the completion
and the snagging period (which I think my parents chose not to
impose, because they were very pleased with the result, even
though it slightly overran).

--
Andrew Gabriel
[email address is not usable -- followup in the newsgroup]