The Guide for Correct Estimate

The scope of the project allows having the required amount of work to develop the web application. Fulfilling all the characteristics at once will increase the cost of development and impediments.

• Technological complexity:

Implementation of technical complexities will increase the cost of development, whereas regular features are not so expensive.

• UI/UX Design:

If you want to have a customized design to lure your audience, the web development costs will increase. On the other hand, standard templates and themes will need a less expensive UI/UX design.

• Deadlines:

A rush project always means higher costs. If there is a demand to meet tight deadlines, more resources get engaged in a single project. A deadline also means higher risk with effective management and increased costs.

• Non-functional needs:

One of the most non-functional needs for a web development company is the system’s capacity to handle per unit of time. Heavy load systems are always expensive.

• Web development company:

The geographical location plays a crucial role in deciding the web development costs. Web development companies’ charges vary as per the geographical location.

• Engagement model:

The fixed engagement model will increase the development cost, whereas the non-fixed price models will cut your development expenses.

Also, there is a distinction between the charges taken by freelancers and charges by a company like Infozion for web application development.

Compare Web development charge on company rates:

With the similarity in requirements, engagement model, and functionality, the web development cost will range from approximately $10,000 to $5,00,000+.

Here is the reason for the price variance:

• Geographical location:

The geographical location determines the prices of the web development professionals and the extent of their corporate charges. Companies’ prices differ as per the geographical location.

• Industry expertise:

Companies with highly skilled professionals who have expertise in narrow fields are always in high demand. The cost for these expert services becomes higher as they possess special knowledge.

• Company’s goodwill and respected awards:

You should know and be ready to pay more if you want to develop the web application with a company having goodwill, a qualified team, a suitable workplace, and a proven track record.

Well, let us have a look at the statistics regarding approximate web development costs by company sizes (for a mid complexity application- 1500 hours approximately)

Freelancers and startups: $15,000 to $38,000

Small companies: $38,000 to $1,00,000

Mid sized companies: $1,00,000 to $2,25,000

Large companies: $2,25,000 to $5,00,000

It is best to select experienced professionals, as they will benefit your company in the long run. Such experts are not significantly expensive in the market.

Cost evaluation by project complexity:

Now the next stage is to present the web development costs based on project types.

Basic (simple web app):

$5,000 to $15,000+

The basic simple web app includes basic functionalities, minimum content, and limited UI/UX. Examples are:

• Pre-defined template layouts.
• Small online catalogues.
• It includes additional widgets and features to the existing web apps.

Professional (mid-complexity web app):

$15,000 to $60,000+

The professional web applications include more advanced functionalities, a lot of content, and interactive features. Examples are:

• E-commerce stores.
• Market-based web apps
• Modules for existing web apps

Complex web apps:

$60,000 to $2,00,000+

The complex web apps have advanced features like audio/video processing, real-time synchronization, custom animations, third-party integrations, and complex back-end.

Enterprise web apps:

$2,00,000 to $5,00,000+

The enterprise web apps often developed for established companies have various custom features, individual UI/UX designs. Examples are:

• Automated billing systems
• Payment processing apps
• Call centres
• E-mail marketing systems

Innovative web apps:

$5,00,000+

The reason for the higher cost for these web apps lies in their title. These apps are made for large corporations having continuous large cash flows.

These are complicated web apps requiring constant innovation.

(Source- quora.com)

Throw away your doubts:

If you have your project costs estimated, but it does not fit your budget.

It is perfectly fine.

Do not make a hasty decision.

Instead, try to clarify every detail.

When you and the development company clarify the doubt, there will be two options left.

• Quit
• Try to negotiate the price.

On the other hand, if the price is unexpectedly low, try to clarify all the details.

Lower price catches attraction.

However, if you are not tempted to clarify your doubts, you might have the risk of overpaying the prices later.