HDP add-on: Spec Cost Updating

As a Housing Rehab Specialist, part of your time is spent making sure you have accurate unit costs for your specs.

Housing Developer Pro now has a Spec Cost Updating add-on that makes it easy for you to update and maintain accurate unit costs for your specs based on bids you’ve received at the line-item level of detail.

To activate the Spec Cost Updating tool, purchase the add-on for $75.

How does it work?
From the Spec Cost Updating tool, choose which specs, bids, and bidders will be factored into or filtered out of the calculation of new unit costs.

HDP calculates a new average unit cost for each spec. Review the new unit costs (New Price column in yellow), make adjustments if necessary, then check the box for specs you want to update and click to apply the new unit costs to your Library of Specs.

Why use unit costs from bid history?
Collecting bids at the line-item level of detail means that you will have unit cost data from multiple local contractors for each specification.

HDP calculates unit cost data based on the bids you’ve received, ensuring that the unit costs you’re using for your cost estimates are as accurate as possible for you. This is an improvement upon regional cost data or even zip-code cost data because it is very specific to your community and your contractors.

The Spec Cost Updating add-on is compatible with HDP versions 3.5.12 and 3.5.14. To start updating your spec costs, purchase the add-on for just $75.