Every real estate project has a total cost to it. These costs are usually broken down into three main categories: acquisition costs, hard costs, and soft costs.
Acquisition costs refer to the costs surrounding the purchase of land or a building. Hard costs refer to any physical improvements to be made, including renovation, ground up construction, landscaping, etc. And soft costs generally refer to professional, financial and other such fees which include design and architectural services, permits, appraisals, bank fees, construction loan interest and other holding costs.
All of these costs are included in each real estate project offered on Small Change.
In this video, produced by Adam Gower of Gower Crowd, he explains these three cost categories in detail.
Click to play.