DEVELOPMENTS generally comprise two types of costs:
- SOFT costs being the Designers, Engineers, Planners, Project Managers, Cost, Planning and Specialist Consultants.
. - HARD costs, which are actual physical building costs, Builder preliminaries and Contingencies.
Both of these costs need to be managed. But there are two specific traps to avoid when reviewing initial planning soft costs — so that your soft costs do not blow the budget later on. [Read more…]