Contractor wants a 50% Deposit

[James Sloan]

Should I be worried if a contractor wants a 50% deposit (initial payment) on a 15 K interior paneling project? 

The material cost for this project is very linear over time. The first 100 square feet of paneling costs the same as the next. So, I cannot imagine why he would need this much up front. 

Thanks in advance for any insight. 

[Bruce Woodruff]

^^^What @Account Closed said. NEVER give 50% up front. If he says materials are at that 50% number, ask to see a quote from his supplier.

And he does not buy 100sf at a time....he will/should buy it all at once.

This is a big warning...think about it - if an established Contractor does not have enough capital to but a few grand worth of wood, or does not have an account at any supply houses or lumber yards.....are you sure you want him anywhere around your property?