Download a copy of our Budget Planning Worksheet for developing vacant land.

When developing vacant land for your RTM (or dream home!) it is imperative for the homeowner to understand that banks to NOT give you money in advance to complete your project, rather they only rebate you upon specific progress milestones met or they simply wait until your project is 100% complete.  If you are looking for mortgage financing, you must accurately project all your development costs upfront.  This template will help you.

This template outlines 10 cost categories (spreadsheet tabs) in residential land development for you to complete, and includes a list of items in each category for your further consideration. At the bottom of each tab, there are links to further reading. Use this worksheet to:

1. record quotes or estimated for each trade or service required to improve the land;
2. determine the payment terms for each supplier, specifically when their bill(s) would be due (very important question to ask);
3. summarize your total project cost including land on a single Cost Projection page to share with your mortgage professional.