How K & S structures payments
Maryland MHIC rules cap how much a residential remodeler can collect upfront and require payments to track actual work completed. We stay well within those rules. A typical K & S payment schedule:
- Modest deposit at contract signing (well within Maryland MHIC limits)
- Draw after demo and rough framing are complete
- Draw at mechanical rough-in (electrical / plumbing / HVAC) inspection
- Draw on cabinet and counter installation
- Final payment after the punch-list walkthrough — never before
Forms of payment we accept
We accept personal checks, ACH bank transfers, and certified funds for project draws. ACH and check are the most common because they avoid credit card processing fees on five- and six-figure projects (those fees become real money on a $60,000 kitchen).
How Maryland homeowners typically finance a remodel
K & S is a remodeling contractor, not a lender, so we don't directly issue loans. We do walk our clients through the financing options they're considering. The four most common we see across Baltimore, Carroll, and Howard County:
- Home Equity Line of Credit (HELOC) — most flexible; draw as you need to pay milestones. Variable rate. Best when you have meaningful equity.
- Home Equity Loan — fixed-rate lump sum against your equity. Predictable monthly payment for the life of the loan.
- Cash-out refinance — replaces your existing mortgage with a larger one. Only makes sense in certain interest-rate environments and for larger projects.
- Unsecured home improvement loan — fast, no collateral, but higher rates. Useful for smaller projects (e.g., a $20,000 bathroom) or when equity is limited.
Will the project add value at resale?
Remodeling Magazine's most recent Cost vs. Value report for the mid-Atlantic shows mid-range kitchen and bath remodels recouping roughly 60–80% of cost at resale, with composite deck additions and entry-door replacements toward the top of the ROI list. The honest answer is that the bigger return for most homeowners is enjoying the house for the next 10–20 years — but resale recovery is real, especially in strong Baltimore-area markets like Towson, Cockeysville, Ellicott City, and Sykesville. See our Baltimore-area cost guide for current pricing.
What we'll never ask you to do
The Maryland Attorney General's Consumer Protection Division publishes a list of contractor red flags every year. We make a point of staying on the right side of all of them:
- We won't ask you to pay in cash
- We won't ask for an oversized deposit that exceeds Maryland MHIC limits
- We won't start work without a signed written contract
- We won't demand the final payment before the project is substantially complete
- We won't ask you to pull the permit in your own name to cover for us