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Paying for Home Remodeling Plans
Hold off on the Final Payment until the Home
Remodeling Plans are Complete
By: Mark J. Donovan
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I remember as a teenager walking into
an architect’s office with my father to get a set of home remodeling plans. The
guy seemed ancient and his office was cluttered with house plans and blueprints.
We had come to pick up and pay for a final set of home remodeling plans from
him. After spending 30 minutes with the architect and reviewing his work we made
the final payment to him and went on our way.
This experience reminded me about
when to pay for home remodeling plans.
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As is typical with most home
construction professionals an initial deposit is fairly customary. It shows
good faith that you are serious about utilizing the contractor or architect
services. However, the deposit should be limited in scope, e.g. no more than
10-15% of the cost of the entire project. To pay more than this amount is
putting you at risk of losing leverage with the home construction
contractor, or architect, to complete the project or home remodeling plans.
As with any business arrangement payment should be provided for work
completed. |
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In the case of paying for home
remodeling plans it is fully appropriate to have to pay a small deposit to get
the architect started, however the full payment should not be provided until you
are satisfied with the home remodeling plans. If the home construction project
is large, for example a new custom home, then incremental payment milestones for
work completed is also a reasonable payment solution. Again, however, make sure
that a significant percentage of the final payment is held off until the house
plans are complete to your satisfaction.
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As soon as you lose payment leverage
you are then simply relying on hope that the architect will complete the home
remodeling plans to your timeframe and satisfaction.

How to Finance your Home Remodeling Project -
can help provide funds for your new home improvement project if financing is
required.
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