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Renovation contract (Time frame & payment term)

January 1, 2020

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Renovation contract (Time frame & payment term)

Every interior design firm payment term is different. However, it shouldn’t differ much.

Renovade suggested payment milestones:

  • Deposit upon signing of the contract: 10%
  • Hacking and demolition work: 15%
  • Masonry & concrete work: 15%
  • Carpentry work: 20%
  • Electrical & plumbing work: 15%
  • Painting and site cleaning: 15%
  • Defect rectification and handover: 10%

The key here is to avoid a lump sum payment. How do I keep up or when to get the next payment ready?
You can refer to Renovade process flow infographic to have a better overview of your renovation process.

It is a very important article in this series, as knowing your renovation process flow will help you understand what’s next and how much to prepare for the next payment to ensure a smooth renovation journey.

As renovation work can vary, always remember to check with your appointed ID for better clarification about your renovation process.  

payment milestone