Do you need a real estate development budget template for a bank loan or to analyze your commercial real estate project? The PropertyMetrics team has created a free Excel template for commercial real estate professionals who need a real estate development budget:
About Our Real Estate Development Budget Template
Real estate development is a complex process that involves a variety of costs and expenses. To manage these costs effectively, it is essential to have a comprehensive budget that considers all the relevant factors. Our real estate development budget template is a valuable tool for developers who want to ensure that their projects are financially viable.
The template is an Excel spreadsheet form that includes sections for various cost categories, including land, site improvements, construction contract, legal fees, marketing fees, and many more. Let’s take a closer look at some sections included in the template.
The land section is one of the most critical components of any real estate development project. The cost of acquiring the land is a significant expense that needs to be factored into the budget. The land section of the template includes fields for the purchase price, closing costs, and real estate taxes.
Site improvements are another crucial cost category that needs to be considered when developing a real estate project. This section of the template includes fields for parking, hardscape/landscape, and other site costs. These costs can vary depending on the type of project and the location.
The construction contract section of the template includes fields for the cost of labor, materials, and equipment. This section also includes fields for contingency costs, which are funds set aside to cover unexpected expenses.
The legal fees section includes fields for the cost of appraisals, A&E fees, and project general requirements. These fees are essential for ensuring that the project complies with all legal and regulatory requirements.
Financing is another critical component of any real estate development project. The template includes fields for various financing costs, including loan fees, loan interest, and other financing costs. These costs can add up quickly and need to be carefully managed to ensure the financial viability of the project.
Contingency costs are another important consideration when developing a real estate project. The template includes fields for both hard and soft contingency costs. Hard contingency costs are set aside for unexpected construction costs, while soft contingency costs cover unexpected soft costs, such as marketing fees.
Overhead is another cost category that needs to be considered when developing a real estate project. This section of the template includes fields for various overhead costs, such as office expenses, utilities, and salaries.
Developer fees and sales fees are also included in the template. These fees are critical for ensuring that the project is financially viable and profitable. Marketing fees are also included in the template, as these costs can add up quickly when promoting a new development project.
In conclusion, the real estate development budget template provided by our company is a valuable tool for developers who want to ensure the financial viability of their projects. The template includes a comprehensive set of cost categories, including land, site improvements, construction contract, legal fees, financing costs, and more. By using this template, developers can manage their costs effectively and ensure that their projects are financially viable.
What’s Included in Our Real Estate Development Budget Template
The above real estate development budget template is an Excel spreadsheet form that includes sections for the following:
- Land
- Site Improvments
- Other Site Costs – Devel Fee
- Construction Contract
- Parking
- Hardscape/Landscape
- FF&E
- Other
- A & E Fees
- Testing (Soil, ESA, Etc.)
- Permits
- Impact Fees
- Closing Costs
- Real Estate Taxes
- Insurance
- Document Stamps
- Cost Analysis & Site Inspections
- Legal Fees
- Appraisal Fees
- Project General Requirements
- Permanent Loan Fee
- Construction Loan Fee (%)
- Other Loan Fee (%)
- Loan Interest
- Bonding Fees
- Other Financing Costs
- Contingency (Hard Cost %)
- Contingency (Soft Costs)
- Overhead
- Developer Fees
- Sales Fees
- Marketing Fees
- Other Fees
- and more…