Northern Va development

[Khalid Al-Hajebi]

Hello, I am trying to get a better Idea of costs for a new construction development and what I should offer for the land. The property is In Northern Va, zoned R-4 or 4 units per acre, total of 15 acres. Additional 8 acres zoned A-1 that would need to be rezoned. 1. What is the average cost of development per sqft? I know the numbers can range wildly but trying to get a general ballpark. Also does this cover soft costs such as sales,permits, etc... 2. What are average loan rates for large projects such as this and is that factored into development cost? 3. I’ve been able to calculate the value of new homes for the area based on new home sales. I know the price that is listed is usually the base price. What is the profit margin on upgrades that builders usually charge for? Any help would be appreciated thanks BP community