Construction Budget: A Quick Guide (with Examples)
Summary
But in general, a construction budget should include the following: • Property: This cost is dependent on where you are building and the scope of your project. • Professional Fees and Services: These costs relate to professional consulting, including permitting, surveying, testing, architectural and design, master planning, structural, electrical, mechanical and civil engineering, accounting, banking and real estate fees. Material costs tend to be a large portion of your construction budget, and are usually broken down into two categories: site preparation and building structure. There might also be a deposit or bond required as a show of faith that your company is going to follow through and ensure all subcontractors, tradespeople and suppliers are paid. Some things that fall under this include changes in scope, design or material upgrades, machinery malfunctions, accidents and acts of God.
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