4 Revise Project Plan

As your project moves from concept to reality, unexpected costs and logistical challenges may arise. This step ensures that your budget, financing, and project scope are still aligned with your goals. Now is the time to refine your plan based on real cost estimates, professional input, and any necessary adjustments. Taking the time to reassess will help you avoid budget overruns, delays, and costly mistakes.

CHECKLIST

Budget & Cost Adjustments

Compare the initial budget with real cost estimates.
Identify unexpected costs and assess their impact.
Review financing options to determine if additional funds are needed.

Professional Consultations

Confirm you’ve spoken to all necessary professionals (architects, contractors, engineers).
Verify that all professionals are licensed, insured, and experienced with ADUs/multiplex projects.
Ensure DIY work (if applicable) aligns with permits and professional coordination.

Scope & Feasibility Review

Determine if you need to scale back, phase the project, or proceed as planned.
Evaluate cost-saving opportunities, such as alternative materials or phased construction.
Confirm that design changes won’t impact zoning, permits, or approvals.

Next Step 5: Understand & Evaluate Financing Options >

Questions to Ask Yourself

Project Scope & Feasibility

Do I need to adjust my project scope? (Proceed as planned? Scale back? Phase the project?)
Have I explored all cost-saving options (e.g., alternative materials, phased construction)?
Do I have a clear plan for how design changes will affect permits and approvals?
Will these changes affect my timeline or rental income potential?

Financial Adjustments

Are revised construction quotes still within my financing limits?
Do I need to adjust my contingency fund based on new estimates?
Have I reviewed my financing options again to see if I need additional funds?
Could an extended timeline impact my carrying costs, loan terms, or cash flow?

Professional Coordination & Quality Control

Have I spoken to all the professionals I need for my project?
Did I get second opinions on my quotes?
If I plan to do some work myself, have I coordinated with other professionals to avoid delays?
Are all professionals I’m working with licensed, insured, and experienced with ADUs/multiplexes?

Process Map

Key Resources

Reflect on your project's adjustments. Are the changes in line with your financial goals and personal reasons for starting this ADU or multiplex project?

Explore these tools to rework your numbers, test different scenarios, and make smart adjustments to your plan—so your project stays financially viable and aligned with your goals.

ADU Financial Calculator Tool by Resimate

Proforma Tool by Mddl

Investment Return Calculator by Urban Lanes