Thread: Payment schedule for building a house

I know that this may be difficult to answer, but I'm wondering how it works paying for a build. Is it a lump sum upon signing contract and then payments made for specific work done at certain contractual intervals? I know that this is all relative to the building company, the budget etc. but I'm curious about ball park figures. stevefarang, DrAndy and Bettyboo are 3 people I'm curious about. My budget is around 3 million Baht. After initial signing for instance, do you pay like 20,000 at a time? And when? I truly don't know, so any insight would be helpful.

usually at "milestones" durring the build, and a sizeable last payment when you
are happy will the final fit and finish

A reasonable schedule that gets everyone moving is deposit, then slab and structural, then walls, then roof, then lockup.

Originally Posted by DrAndy

It is up to you and the builder to agree on a payment schedule

That would depend on who is buying the materials, as he would need more in advance

Just ask him to give you what he thinks should be paid and when and see if it seems reasonable

For each of my builds I have had quite different schedules

What Andy said.
Difficult to pull a standard on this shite, as every situation will be different from the next.

More likely to set a time frame for the build, pay some upfront......and than pay as you go. Contract or not. Best to be cautious in Thailand, yet not paranoid.

We're paying in stages. Each stage has certain things to be accomplished.

Be sure to include a damages clause if they fail to meet the schedule. For instance, we signed an extension of 200 days last August. Every day beyond that costs them XXX baht.

Always pay at milestones and take an engineer with you to check everything before handing over the money! Milestones you might want to use:
-foundation
-ground floor/2nd floor, etc
-roof (in the Netherlands we use the term "wind and waterproof")
-kitchen
-finishings
-garden