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Contractor Payment Schedule Calculator
Enter the contract price, deposit and retainage, then adjust the milestones to fit your job.
| Milestone | Share % | Pay Now | Paid So Far |
|---|---|---|---|
| Permits approved, materials ordered | |||
| Rough work done and inspected | |||
| Drywall and major systems done | |||
| Finishes installed | |||
| Punch list complete, final inspection | |||
| Release retainage after final walk-through |
How Much Should You Pay a Contractor Up Front?
Keep the deposit small and check your state’s limit; some states cap it for home improvement work. California, for example, generally limits it to 10% or $1,000, whichever is less. Then tie each payment to finished, inspected work, and hold back a final payment until the punch list is done.
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Payment Questions
What is retainage?
Retainage is a share of each payment, often 5–10%, that you hold until the end of the job as protection against unfinished work or unpaid subcontractors. Some states limit it, so check local rules before writing it into a contract.
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