How to prepare an Accommodation Schedule and calculate your GDV
In This Tutorial
Introduction to Appraisal;
Step-by-Step: Setting Up the Accommodation Schedule;
Customising Property Types and Prices;
Calculating Gross Development Value (GDV);
Flexible Adjustments for Accurate Scheduling;
Key Benefits of Appraisal.
Summary
This tutorial provides a comprehensive guide to preparing an accommodation schedule using Appraisal. Starting with a pre-set or custom scenario, users can enter property types, sizes, and prices to calculate the Gross Development Value (GDV). The flexible interface supports market rate and affordable housing classifications, making it ideal for developers seeking detailed yet customisable solutions for their appraisals. Learn how to create accurate accommodation schedules, and make informed decisions for your development projects.
1. Introduction to Appraisal
BOOM!'s Appraisal is designed to help developers and surveyors calculate future receipts for all classes of development. Starting with the accommodation schedule, users can define property types, sizes, and values to establish a project’s Gross Development Value (GDV).
2. Step-by-Step: Setting Up the Accommodation Schedule
Open a new or pre-set appraisal within Appraisal;
Define the use class (e.g., C3 for residential);
Add property types (e.g., flats, detached houses) and their respective quantities.
3. Customising Property Types and Prices
Market Rate Properties: Specify the number of units, sizes, and fixed or per square meter pricing;
Affordable Housing: Choose categories like social rent or intermediate housing and enter similar details;
Unit Types: Select flats, terraced, semi-detached, or detached homes for each category.
4. Calculating Gross Development Value (GDV)
Appraisal automatically calculates the GDV based on input data. For instance:
3 one-bedroom flats at £550,000 each: £1.65M;
2 two-bedroom flats at £625,000 each: £1.25M;
Total GDV: £5.3M (example scenario).
5. Flexible Adjustments for Accurate Scheduling
You can adjust quantities, sizes, or prices anytime to reflect updated plans or corrections. For example, if you missed a unit, simply add it, and the GDV recalculates (amongst other vital elements) automatically.
6. Key Benefits of Appraisal
Ease of Use: Intuitive interface for entering and modifying data;
Flexibility: Supports a mix of property types and housing classifications;
Accuracy: Automated GDV calculations for precise appraisals;
Scalability: Suitable for small and large-scale developments.
This comprehensive tutorial empowers developers to manage their accommodation schedules and GDV effectively, ensuring accurate and adaptable development appraisals.
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