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Construction Payment Schedule

Enter the contract amount, any retainage and each payment stage as a percentage of the contract. The calculator shows each stage payment, the running total, the amount held back and a check that the stages add up to 100%. A 100,000 contract with stages of 10, 20, 30, 20 and 20% schedules the full amount.

Estimate only. Get written quotes before you commit; prices vary by region, season and site conditions.

Measurements

Units

Share of each payment held back until completion, if your contract has it.

Payment stages

Results

Scheduled payments

$100,000.00

Share scheduled

100 %

Retainage held
$0.00
Not yet scheduled
$0.00
  • Within limit: stages add up to 100% (now 100%)
Show the working
  1. Stage paymentDeposit: 10% = 10000 (Σ 10000)
  2. Stage paymentFoundation: 20% = 20000 (Σ 30000)
  3. Stage paymentFrame and roof: 30% = 30000 (Σ 60000)
  4. Stage paymentLock-up: 20% = 20000 (Σ 80000)
  5. Stage paymentCompletion: 20% = 20000 (Σ 100000)
Paper and orientation
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How to use the payment schedule

  1. Enter the contract amount.
  2. Enter retainage if your contract has it.
  3. Add each payment stage with its share of the contract.
  4. Check that the stages add up to 100%.

How the schedule works

Each stage payment = contract × stage percentage. With retainage, the amount paid = stage payment × (1 − retainage), and the rest is held. The working shows a running total so you can see how much has been paid at each stage.

Worked examples

New home. 100,000 with stages of 10, 20, 30, 20 and 20%: payments of 10,000, 20,000, 30,000, 20,000 and 20,000, totalling 100%.

With 5% retainage. The foundation payment of 20,000 becomes 19,000 paid and 1,000 held. Across the whole contract, 5,000 is held until completion.

How to interpret the results

Compare the schedule with your contract and your cash flow. If you are borrowing, check that your lender’s draw schedule matches the builder’s.

Tips and common mistakes

  • Tie payments to inspections or clearly defined milestones.
  • Avoid large up-front deposits; many places regulate them.
  • Keep records of each invoice and payment.
  • Plan for variations, which change the contract sum.
  • Match your lender’s schedule if a construction loan funds the payments, so money is available when each stage is due.

Common stage names

Payment stages are usually tied to visible progress. Typical stages for a new house are a deposit, base or slab, frame, lock-up (roof, external walls, windows and doors), fixing (internal linings, cabinets and fittings) and practical completion. For renovations, stages often follow trades: demolition, rough-in, closing up and finishes. Whatever names you use, define each stage clearly in the contract so everyone agrees when it is complete.

Keeping track

As each stage is invoiced, check the work against the description, keep copies of the invoice and receipt, and record any variations. A simple record makes it easy to reconcile the final account at the end of the job.

Use the contractor quote comparison to choose a builder, the renovation cost calculator for your overall budget and contingency, and the project materials list to track materials you are supplying yourself.

Assumptions and limitations

The tool works with percentages of a fixed contract sum. Variations and cost-plus contracts need separate tracking.

Frequently asked questions

What is a draw schedule?

A plan of progress payments tied to construction stages, such as foundations, framing, lock-up and completion.

What is retainage?

A percentage of each payment held back until the work is complete and defects are fixed, if your contract includes it.

How should payments be staged?

In line with work completed, so you never pay far ahead of progress. Your contract, lender or local rules may limit deposits and stage payments.

Why must stages add up to 100%?

Otherwise part of the contract isn’t scheduled, or you’d be paying more than the contract sum. The check warns you.

Is this legal or financial advice?

No. It is a planning tool. Check your contract and local regulations.

Can I use it for a renovation?

Yes. Set the stages to match the renovation milestones in your contract, such as demolition, rough-in and finishes.

Does it handle variations?

Not directly. Add a stage for approved variations or adjust the contract amount when a variation is agreed.

Sources