What is a Construction Cost Estimate?
A Construction Cost Estimate is a detailed breakdown of the projected costs associated with the construction phase of a project. It includes material, labor, equipment, and other associated costs required to complete the project from start to finish. This estimate is used to determine the feasibility of the project, the required budget, and to assist in securing financing or investor support.
For Development Application approval, the estimate is submitted to local councils or relevant authorities to demonstrate that the project is financially viable and that the funds are available to complete the construction.
Understand the full scope of the project, including size, complexity, materials, and design requirements.
Work with architects, engineers, and quantity surveyors to determine precise costings based on the scope and project requirements.
Obtain quotes from suppliers, contractors, and service providers to ensure the cost estimates are realistic and up-to-date.
Organise the estimate into categories (e.g., labor, materials, equipment) to provide clarity and transparency.
A well-prepared Construction Cost Estimate is an essential document for obtaining Development Application approval. It ensures the project is financially feasible, complies with regulations, and helps secure financing. For developers, this estimate serves as a foundational tool for planning, budgeting, and risk management throughout the project lifecycle.
If you’re preparing for a Development Application and need an accurate construction cost estimate, Ac Valuers can assist in providing a detailed and reliable estimate to support your approval process.
We are committed to providing professional and accurate valuations to support your legal objectives. Let us help you navigate your legal challenges with confidence. Contact us today to schedule your consultation!
