What is a valuation on a self build?

A valuation is the discipline behind every safe payment: before money moves, someone puts a value on the work actually done - walked, seen and measured against the contract's prices, not taken from the payment request's own arithmetic. Builders' requests are not usually dishonest, but they are always the builder's version, and they tend optimistic: the plastering that is nearly done counted as done, materials on order counted as on site. A valuation replaces that version with what is standing. Done monthly, it keeps your money permanently level with the build, which is the position you never want to lose: a builder slightly behind your money has every reason to keep building. On a self build it is the single discipline that pays for itself most directly.