How do payments work?
Most people assume that when they work with a contractor, they will need to make payment by the 1/3, 1/3 and 1/3 method. And many companies use this method. Unless we are doing a small project Almar does not use this method.
Instead we use a Progress Payment Schedule (or Milestone Payments).
At first the idea of seeing something out of “the norm” (or what they think they should be seeing) for contractors throws some homeowners off, but once a homeowner understands the system, we rarely have a client complain.
So, what is the Progress Payment Schedule? Basically, it is breaks down the cost of the entire remodeling projects into small chunks. Enough so that we can cover the expenses that are coming up: bills, deposits, special orders…but never so much that we are too far ahead of a client and vise versa.
Too often we hear the stories from people that “they took a huge deposit and we never heard from them again”. My hope is that is utilizing the Progress Payment Schedule it gives our clients another layer of comfort when moving forward with their project.
Here is an example of what you might see as one of our Progress Payment Schedules:
| Payment: | When Due: | Amount: |
| Initial Payment | Contract is signed | $XYZ.00 |
| Building Permit Costs | TBA | |
| Start of Deck work | $ XYZ.00 | |
| Start of Door work | $ XYZ.00 | |
| When Siding is Delivered | $ XYZ.00 | |
| When Siding is half installed | $ XYZ.00 | |
| Final Payment | When work is completed | $ XYZ.00 |
We always remind homeowner’s this in not the cost of each item of the project, but the overall cost broken down into milestones that are easily viable that they are happening.
Our family has been working with families like yours for over 60 years. And it is important to use that everyone works together to create the best possible remodeling experience. We never want to see someone regret the choice they made because they did not have all of their options. If you have questions about your home improvement project or would like more information on decking Contact Almar: https://www.almarbuilding.com (781-826-2577) and watch our videos: http://www.youtube.com/almarbuilding
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Almar Building & Remodeling Co (Hanover Ma). As a third-generation family owned and operated company for over 60 years Almar Building has all the benefits of a small company with the options of a larger company. From Additions, Kitchens, Bathroom, Basement Renovations, Siding, Windows, to Doors Almar services the entire South Shore of Massachusetts including: Hanover, Hingham, Pembroke, Norwell, Scituate, Cohasset, Duxbury, Hanson, Abington, Rockland, Holbrook, Braintree, Weymouth, Milton, and many more towns. How do payments work?
