RIGHT PLACE - RIGHT LOAN - RIGHT LENDER

Line Item Budget

Line Item BudgetConstruction Line Item Budget/Schedule of Values

To avoid conflicts over payment, it’s important that the draw schedule reflect the Line Item Budget aka Schedule of Values. Your Line Item Budget should be detailed and take into account the terms of your construction loan.  A good draw schedule is based on an accurate and detailed estimate that is in line with your budget.

Sample Construction Line Item Budget
Description Cost% of Total
Plans and specs$2,000.001
Permits, inspections, fees$4,000.002
Impact fee$3,000.001.5
Clear lot and rough grade$1,500.001
Survey$1,000.000.5
Water hookup and fees$3,000.001.5
Sewer hookup and fees$3,000.001.5
Well, pump, hookup, and water treatmentN/A
Septic system and hookup N/A
Excavation and backfill$4,000.002
Foundation and flatwork$12,000.006
Rough Framing$31,000.0015
Windows$6,000.003
Exterior doors$2,000.001
Roofing$5,000.002.5
Siding and ext. trim$10,000.005
Gutters and downspouts$1,000.000.5
Plumbing rough-in$9,000.004.5
Electrical rough-in$8,000.004
HVAC$8,000.004
Insulation$3,000.001.5
Drywall$10,000.005
Stairs$3,000.001.5
Interior trim$7,000.003.5
Interior doors$2,000.001
Painting interior/exterior$7,000.003.5
Cabinets and countertops$12,000.006
AppliancesNA
Lighting fixtures$2,000.001
Plumbing Fixtures$4,000.002
Floor coverings: Wood, tile, carpet, vinyl$12,000.006
Gararge doors and opener$2,000.001
Porch, deck, or patio$5,500.003
Driveway and walkways$6,000.003
Landscaping$6,000.003
Other$5,000.002.5
TOTAL CONSTRUCTION COSTS$200,000.00100

The sample budget above does not include the lot cost or construction loan finance charges.  The total construction budget of $200,000 was used for demonstration purposes only and construction budgets vary widely based on the size and quality of the home, the materials selected and the location.  The numbers used in the sample above are accurate for a budget of $200,000 and will give you a sense of where the money goes.