I sometimes overheard someone planning to venture into real estate development (I.e developer) discussing cost required to set up his proposed business. He started with cost of land as the first thing ...... follow by cost of building and he said with confidence "I think am good to go". Then I realize that this man know less about what he is planning to do. As a quantity surveyor and someone that cares.... I quickly engage in the discussion before he starts what he can't finish. Then I took him to a very short journey and this is the summary of what we brought from the journey....

Key cost related parameters to be considered by a developer
1. Cost of land
2. Legal and planning fee.
3. Professional fee (surveyor, quantity surveyor, Architect, Engineers e.t.c)
4. Cost of building (All the building items starting from Preliminaries, Foundation, Frames, Slab, Stairs, Roof, Blockwall, Doors, Windows, Fixtures and fittings, Electrical and Mechanical installation, External works and Finishes.)
5. Interest on borrowing ( this apply to borrowed capital)
6. Infrastructural costs(Acess road, sewer e.t.c)
7. Illegal fee (omo onile)
I think this help someone.
Am AKINTUNDE WASIU
#Quantity surveyor
#Project manager
#Specialist in risk management.
#Construction cost planning and control.