Estimating a new construction project.

[Account Closed]

For all developers out there. How do you estimate constructions costs prior to presenting a project to lenders? Do you first acquire land and plan then perform the estimate, or is this done prior to securing a construction loan. If so, do you perform a rough estimate prior to funding?

[Sid Leibowitz]

I do a line item estimate in Excel of every cost impact item to establish a budget. Because I have done this before and have experience it is not difficult. However: it can be time consuming.