- What should you not say to a contractor?
- What does main contractor discount mean?
- Can you refuse to pay a contractor?
- How much should you give a contractor up front?
- Do I have to pay a contractor for bad work?
- How much of a discount do contractors get at Lowes?
- How much money can you save by being your own general contractor?
- Should you tell a contractor your budget?
- Why are general contractors so expensive?
- Can you haggle at Lowes?
- What is the standard down payment for a contractor?
- Can you negotiate price with contractors?
- What is a reasonable general contractor fee?
- How much discount do contractors get at Home Depot?
- Are general contractors worth it?
What should you not say to a contractor?
8 Things You Should Never Say to a Contractor’I’m not in a hurry’ …
‘I know a great roofer/electrician/cabinet installer!’ …
‘We had no idea this would be so expensive’ …
‘Why can’t you work during the thunderstorm/snow/heat wave?’ …
‘I’ll buy my own materials’ …
‘I can’t pay you today.
‘I’ll pay upfront’ …
‘I’m old school..
What does main contractor discount mean?
The term ‘main contractor’s discount’ (MCD) refers to a clause that can be included in building subcontracts to encourage main contractors to pay their subcontractors within the period of time specified in the contract. … The discount should be clearly stated on invoices, applications and accounts.
Can you refuse to pay a contractor?
You need to make sure the contract legally allows you to withhold payment in certain circumstances. … For example in the construction industry, the security of payment laws do not allow contractors to withhold payments to subcontractors just because principals are also withholding payment to contractors.
How much should you give a contractor up front?
If your contractor asks for a lot of money up front, run. You should pay no more than 10% to 15% of the total cost of the project up front. Subsequent payments should only be made when certain milestones are met.
Do I have to pay a contractor for bad work?
Most important of all, inspect all work carefully before paying contractors for it. As the adage goes, possession is nine-tenths of the law, so if you don’t pay them for bad work, the onus is on them to pursue the matter in arbitration or small claims court to try and get money from you, rather than vice-versa.
How much of a discount do contractors get at Lowes?
Lowe’s offers volume discount pricing in addition to the contractor bundles, and you can save between 5% and 50% depending on your purchase amount.
How much money can you save by being your own general contractor?
You Can Save Money But the amount of money you can save by acting as your own general contractor can be nothing short of staggering. Figuring a typical 20-percent contractor’s commission for a major room addition costing $200,000, you can save $40,000 by acting as your own contractor.
Should you tell a contractor your budget?
When you are meeting with contractors to get estimates for a remodeling project, most representatives will ask for your budget range. If you have ever asked yourself if you should provide your contractor with a remodel budget, the answer is YES. … that is what they tell the contractor.
Why are general contractors so expensive?
The reason why home remodeling projects tend to always cost more and take longer than agreed upon is because some general contractors want to make maximum money from you. Making maximum profits is Business 101. However, some general contractors (GC) go too far.
Can you haggle at Lowes?
Lowe’s is notorious for negotiating add-ons rather than a lower price. Always negotiate major appliances. Lowe’s has an amazing selection of appliances and are often open to negotiating the price. Your best bet is to always do your homework before you shop and print out any instances where you find of a lower price.
What is the standard down payment for a contractor?
10-20 percentBefore any work begins, a contractor will ask a homeowner to secure the job with a down payment. It shouldn’t be more than 10-20 percent of the total cost of the job. Homeowners should never pay a contractor more than 10-20% before they’ve even stepped foot in their home.
Can you negotiate price with contractors?
A: Yes, you can negotiate with a contractor; the trick is doing it without making it feel like a negotiation. Anytime you’re haggling over someone’s work (versus a mass-produced product like a car or flat-screen television), look for a way to ask for a lower price without any suggestion of insult.
What is a reasonable general contractor fee?
General contractors get paid by taking a percentage of the overall cost of the completed project. Some will charge a flat fee, but in most cases, a general contractor will charge between 10 and 20 percent of the total cost of the job. This includes the cost of all materials, permits and subcontractors.
How much discount do contractors get at Home Depot?
When you speak to the contractor’s desk, you submit your order to them. From there, the Pro will submit the order to the corporate office to get a price quote and, within a few hours, you will be offered a price that is somewhere in the neighborhood of 8-12% below what the retail cost of that order would normally be.
Are general contractors worth it?
We have often found that many people hire a residential general contractor when they don’t really need one, and on the flip side of that, there are people who don’t hire them when they should. … If the job is going to take more than a week, hire a GC. If the job requires several different pros to complete, hire a GC.