HouseChalkMilestone draw
A milestone draw is a scheduled payment made to the builder when a specific, verifiable stage of construction is completed.
Why it matters
It keeps payments tied to actual progress rather than arbitrary dates, protecting the homeowner from paying for work not yet done.
Where people get this wrong
A 'deposit' or 'mobilization fee' is not a milestone draw. Milestone draws should map to tangible events like 'Foundation poured' or 'Drywall finished'.
Real-world example
Your contract says 15% is due at 'Drywall finished'. You walk the house, see the drywall is up and taped, and authorize the milestone draw.
Where this hits your build
This comes up early, before construction starts. It affects your contract, your budget, or both. Misunderstanding it can cost you money or leverage.
Most people do not just struggle with terms. They struggle with the decisions tied to them.
See how HouseChalk helps with the decisions behind terms like this