Florida Construction Draw Schedule & Budget Guide for Investors

A clean budget and a milestone-based draw schedule keep Florida new builds on time. If banks slow you down or deny income docs, you can still fund fast with a lender-ready plan.

A realistic budget for Florida new builds starts with sitework, soft costs, and a hard-cost contingency.

Florida dirt can hide surprises. Build your new build construction budget line by line so your cash lasts to the CO. Use recent bids, not guesses, and track every permit, fee, and inspection.

Start with a simple construction budget template for investors that breaks costs into clear buckets. Aim for no more than 50 line items so you can manage weekly.

• Acquisition and closing: price, title, survey, insurance, prorations.
• Sitework: clearing, fill, hauling, dewatering, silt fence, termite pretreat, temporary power and water, driveway apron.
• Foundation and slab: compaction, stem walls, vapor barrier, under-slab plumbing and electrical, concrete.
• Framing and shell: lumber, trusses, hurricane connectors, sheathing, house wrap.
• Roof dried-in: underlayment, shingles or metal, flashing, gutters.
• Impact windows and doors: coastal wind ratings add 8 to 12 percent to shell costs.
• Rough-ins: plumbing, electrical, HVAC, fire blocking.
• Insulation and drywall: sound packs if required by plan.
• Exterior finishes: stucco or siding, paint, soffits, fascia.
• Interior finishes: cabinets, tops, tile, flooring, trim, paint, mirrors, glass, hardware.
• Systems and fixtures: water heater, appliances, lighting package, bath trims.
• Finals and site: grading, landscaping, irrigation, mailbox, flatwork, final clean.
• Soft costs: architectural, engineering, truss calcs, energy calcs, permit fees, impact fees, utility taps, septic or sewer tie-in.

Use real Florida numbers and pad soft costs you cannot control

Impact fees can range from $5,000 to $25,000 by county. Utility connections and meter sets can run $2,000 to $10,000. Septic systems often land between $8,000 and $18,000 depending on soil and size. Budget sitework at 8 to 20 percent of total hard costs if the lot needs fill or dewatering.

Lock a contingency before you pour the slab

Construction contingency planning for investors should target 7 to 12 percent of hard costs. In coastal or high-water-table zones, add a separate site contingency of $15,000 to $40,000 for unsuitable soils, extra fill, or pumps. Keep contingency as its own line. Do not hide it in framing or finishes.

For deeper tactics on budget structure, see our ground-up construction budget guide that protects returns.

A Florida construction loan draw schedule should mirror clear builder milestones and pass inspections fast.

Most lenders fund in 5 to 8 draws tied to work in place, not time. A tight construction draw schedule reduces idle crews and keeps interest costs in check.

Set builder draw schedule milestones Florida builders and inspectors recognize. Share it with your GC before you sign.

• Draw 1: Permits issued, mobilization, clearing, fill, temporary utilities. 5 to 10 percent.
• Draw 2: Foundation complete with under-slab rough-ins and passed inspections. 10 to 15 percent.
• Draw 3: Framing, trusses set, sheathing, hurricane ties. 15 to 20 percent.
• Draw 4: Roof dried-in, impact windows and exterior doors set, WRB installed. 15 to 18 percent.
• Draw 5: Rough MEPs complete and inspected, exterior finishes started. 15 to 18 percent.
• Draw 6: Insulation, drywall hung and finished, prime paint. 10 to 12 percent.
• Draw 7: Cabinets, tops, flooring, tile, trim, interior doors, paint. 10 to 15 percent.
• Draw 8: Fixtures, final grading, landscaping, punch, CO. 5 to 8 percent.

This hard money draw schedule Florida pattern lines up with county sign-offs and lender checks. It also allows stored materials in the finishes phase with photos and invoices when your lender permits it.

Tie the contract to the draw schedule and Florida lien law

Align your GC agreement to the Florida construction loan draw schedule. Require a notarized conditional lien waiver with each request per Florida Statute 713, then an unconditional waiver after funds clear. Add language for stored materials, retainage of 5 to 10 percent until CO, and a clear change order process in writing.

Want a full walkthrough on pairing contracts with draws? Read our construction loan draw schedule and contract guide.

Lender inspections clear faster when you show permits, photos, and pass key checkpoints.

Most draws fund within 3 to 5 business days after a clean inspection. You speed that up with a repeatable lender inspection checklist Florida inspectors will love.

• Permit card on site with the latest county or city sign-offs.
• Date-stamped photos of each trade and elevation. Include close-ups of anchors, straps, and under-slab work.
• Invoices and proof of payment for stored materials if requested.
• GC draw request, updated schedule of values, and percent complete by line.
• Conditional lien waivers from GC and subs with each draw. Unconditional waivers after funding.
• Updated budget vs actual and change order log.
• Survey, truss engineering, energy calcs, and wind load details as applicable.
• Elevation certificate for flood zones before finishes draw if required by jurisdiction.

Schedule inspections 24 to 48 hours before milestones to avoid idle days. Keep a shared photo folder and a one-page cover memo that calls out what advanced since the last draw.

You prevent cash crunches by monitoring burn rate weekly and staging draws every two to three weeks.

Build a cash calendar that shows expected spend and draw receipts by week. Track labor and materials burn against your schedule of values so you never outrun your next wire.

• Set a target to request a draw every 14 to 21 days or at each milestone.
• Plan for 3 to 5 business days from inspection to funds received. Hold two weeks of float cash.
• Keep an interest reserve line. A 9-month build at $1.2M with $700K outstanding averages 5 to 7 months of interest accrual before CO.
• Color code red lines that exceed budget by 3 percent. Stop and reforecast the remaining work when that happens.
• Use simple rules: no more than 30 percent of your contingency spent before drywall, and at least 50 percent of finishes bought before Draw 7.

If you also manage permits and crews, align your pre-apps and phased approvals to release work faster. Our checklist on how to align permits and contractors will help reduce dead time.

You protect returns with the right leverage, exits, and a clean budget-to-ARV story.

Lenders like to see your budget, timeline, and ARV connect. ARV means After Repair Value. It is the value after the build is complete. LTP means Loan to Purchase. It is the percent of the purchase price funded. LTC means Loan to Cost. It is the loan divided by total project cost.

With Diplomat Property Loans, you may qualify for a ground-up construction loan up to $3,000,000 that covers 100 percent of construction costs and up to 85 percent LTC with a 620 minimum FICO. Rates depend on your credit, experience, and the deal. No income docs are required because these are business-purpose loans on investment properties only.

Plan both exits early. If you will sell, match specs to the comps and seasonality. If you will hold, model a DSCR rental loan at lease-up. DSCR means Debt Service Coverage Ratio. It is rent divided by the loan payment. Many DSCR loans top at 80 percent LTV with 30-year fixed options and 660 minimum FICO, so underwrite your rent and expenses now.

Frequently Asked Questions

How many draws should I plan for on a Florida spec home?

Most investor builds work best with 5 to 8 draws. A simple ranch on slab might clear in 5 draws. A two-story coastal plan with impact windows and dewatering often needs 7 or 8. Keep the biggest percentages at framing, dried-in, and finishes to match spend.

How fast do draws fund after inspection in Florida?

Typical timelines are 3 to 5 business days from inspection to wire. Some lenders fund within 48 hours if your documents and photos are complete. Plan for one extra day around holidays and month-end. Keep two weeks of cash to bridge weather or re-inspections.

What contingency should I carry for a Florida new build?

Carry 7 to 12 percent of hard costs as contingency. Add $15,000 to $40,000 for site risk in areas with poor soils or high water tables. Keep a separate allowance for impact fees and utility taps that can swing by thousands between jurisdictions. Do not spend contingency before framing unless safety or code demands it.

What goes into a draw request packet for a lender?

Include an updated schedule of values, percent complete by line, photo log, and invoices for stored materials. Add conditional lien waivers from the GC and subs per Florida Statute 713. Attach the latest permit sign-offs for any covered work like under-slab or rough MEPs. A one-page cover memo that highlights progress speeds approvals.

How should I align a cost-plus contract with my draw schedule?

Use milestone draws with a 5 to 10 percent retainage until CO. Cap GC fee draws at the same percentage as work complete, and require timecards or vendor invoices for reimbursables. Allow stored materials up to a set limit with photos and paid receipts. Tie every draw to a pass/fail inspection point like dried-in or rough approvals.

What budget items Florida investors most often miss?

Common misses include fill and compaction, dewatering, tree mitigation, and utility tap fees. Others are termite pretreat, wind-rated doors, elevation certificates, driveway aprons, and final grading. Impact fees can jump $5,000 to $10,000 between nearby cities. Add a 2 to 3 week weather buffer to your schedule in summer.

If you want to talk through your specific deal, our team can review your scenario and tell you what fits. Reach out to Diplomat Property Loans to start the conversation.