Property development feasibility software comparison

Know your options

Spreadsheet template or platform? Spreadsheets aren't built for feasibility analysis — the formulas, macros and functionality are retrofitted onto agnostic spreadsheet software you have to buy first. Platforms are purpose-built for property development feasibilities, and the technology, customisation and productivity completely supersede a template.

Country of origin

Property development is unlike any other industry. It's complex, with vastly different statutory, legislative and tax rules between countries — and between states and territories within them. Investigate which country the template or software is built for, and whether it caters for the nuances of your region.

Consider whether the solution helps determine tax exemptions, legislative duties and schemes — transfer duty, the margin scheme (Australia only), and so on. Incorrectly applying legislation, or miscalculating GST liabilities and GST reclaimed, has a material impact on funding, cashflow and a project's viability.

Evaluate the costs

Weigh each option's cost against the benefits it offers, and watch for additional (often hidden) costs for training and support. Consider cancellation policies and payment options — monthly or annual. Some spreadsheet templates are single-device only, so you'd need two licences to work across two computers.

Testing

Load an existing feasibility study to compare it directly with your development strategy. Expect differences in the numbers — each solution varies, especially if it's designed for another market. In Australia, test whether it handles the Margin Scheme, and whether it accommodates multi-site land acquisition where one site has the Margin Scheme applied and the other is GST-payable on purchase.

Breaking formulas

A major advantage of a platform is that you can't accidentally break a formula — in fact, you'll never see one. The technology does the heavy lifting. Spreadsheets, by contrast, are notorious for errors (over 90% contain mistakes). You should never have to see a formula or a #REF! error — and if you do, run a mile. Tip: never copy a spreadsheet feaso and re-use it; you'll break the macros.

Assess the funding section (critical)

Property development funding is complicated — senior and subordinate debt, capitalised (interest-on-interest) and non-capitalised facilities, debt waterfalls, interest that moves with drawdown amounts, different senior-debt LVR methods. A robust funding section reduces your exposure and lets you re-run the numbers when you need to pivot quickly. This is where platforms reign supreme: the interface is built to do the heavy lifting and remove the complexity.

Product & feature updates

Spreadsheet templates are as-is, with little innovation. Platforms have teams dedicated to user experience, product development and technology — they watch how the platform is used and constantly roll out new features and enhancements.

Check for compatibility

Spreadsheet templates are often limited to one operating system (PC or Mac) and a single device, and you'll need to keep your spreadsheet software up to date or risk compatibility issues and broken macros. Platforms are agnostic — log in via any web browser, on any device, anytime, from anywhere.

Feasibility version control

Managing multiple feasibility versions is a major spreadsheet headache — especially in property development, where costs and sale prices are constantly moving targets. You'll often end up with several separate files capturing the numbers at a point in time. Platforms are purpose-built, with quick feaso duplication and everything in one place (a dashboard).

Customer support

This is critical — waiting a week for help is unacceptable. Check the solution has a dedicated, responsive support team, and whether there are extra costs for onboarding, training and support.

Make a decision

After weighing all of the above, decide which option best suits your needs. Consider both short- and long-term costs and benefits, and evaluate each solution's ability to help you meet your business goals.