Epex Consulting provides independent development budget review for owners and developers across Texas and the United States. We examine construction costs, missing scope, allowances, and contingency before a commitment or when an active project needs a clearer cost picture. You receive a written review of the assumptions and items that need attention.
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Missing line items. Permits and impact fees, utility connection charges, builder’s risk insurance, testing and inspections, dumpsters, and general conditions priced as an afterthought.
Underpriced trades. Line items carried at last year’s numbers, or at a bid from a sub who won’t hold the price.
No contingency discipline. A contingency that is either too thin to survive first contact or so vague it becomes a slush fund. We check all three against available local trade pricing, project assumptions, and relevant cost history.
A marked-up budget with every flagged line explained: what we think the real number is, why, and what it does to total project cost. A missing-items list with estimated values. A read on whether the contingency, general conditions, and fee structure are appropriate for the project’s size and delivery method. Where the budget ties to a lender’s schedule of values, we reconcile the two so the draw structure doesn’t fight the budget for the whole project.
Planning the reserve? See how much contingency to carry on a Texas project. Once construction starts, the Texas commercial budget variance checklist shows how to track budget against actual costs.
A contractor’s estimate describes a construction scope. A development budget also needs to account for costs and responsibilities outside that scope. We review how the contractor’s number fits the overall project, looking for gaps, overlapping amounts, and allowances that are still awaiting design or pricing.
When you are choosing between bids, start with a contractor proposal review to compare included work. When you need to evaluate the project before proceeding, our multifamily feasibility study addresses the broader decision. A budget review can be commissioned as a focused engagement.
A development budget review is a structured read of every line in the budget, in the order the money will actually be spent. We do not start from the total; we start from the site, because that is where Houston and Texas budgets are most often short. Here is the sequence an Epex development budget review follows.
Every line gets one of three marks: supported, at risk, or missing. The at-risk and missing lines get a dollar range and a note on what evidence would close the question. That is the working document you take back to the contractor, the lender, and your equity partners. Most owners use the development budget review twice — once to decide whether to proceed, and again as the baseline the monthly draws are reconciled against.
Incomplete design does not prevent a review, but it changes what can be concluded. The review distinguishes documented prices from provisional allowances and identifies the information needed to resolve remaining questions.
A reviewed budget becomes more useful when changes and payments are tracked against it. Construction draw administration reconciles draw documentation with the budget, while owner’s representation adds ongoing scope, schedule, and change-order oversight. These services can support owners who need help beyond the initial budget review.
How long does it take?
Most reviews run 5–10 business days depending on project size and how complete the drawings are.
Do you need finished plans?
No — but the review is only as sharp as the documents. We’ll state clearly which numbers are firm and which are allowances pending design.
Is this the same as your feasibility study?
The budget review is one component of feasibility, offered standalone for deals that are already past the go decision.
Bring your budget, available drawings, and contractor proposals. We will identify the assumptions to clarify and the cost items that need further review.
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