Frequently Asked Questions > What is the payment schedule when building a custom home?

What is the payment schedule when building a custom home?

Contract Documents

Once a firm price has been established, Guenther Homes drafts a set of contract documents, which includes a set of design drawings, a complete specifications list, and a contract to build your home. If an agreement is reached, we ask for a down payment. Upon receipt of the down payment, Guenther Homes will begin the construction of your home, which usually begins with site preparation.

Payment Schedules

The payment schedule (or draws) depends on the magnitude of the project.

Typically they are arranged as follows:

Down payment:20% before construction begins
2nd Installment:25% after framing is complete
3rd Installment:25% after insulation is complete
4th Installment:20% after kitchen is installed
Final Payment:10% upon completion or closing of the home

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