"The system's software reviews each budget line and compares costs for similar projects in the specified geographic area. While this process can be done manually, automating it can save time and help builders obtain necessary construction finance draws faster, Sitewire CEO Bryan Kester tells The Builder's Daily/HousingWire. It saves you having to go to a GC, ask for a construction bid or estimate, and then just hope that it's correct. It's the opposite process. You would put it into our system, hit a button, and we'll tell you within 15 minutes"
"PermitIQ, on the other hand, tells builders what specific aspects of their project are going to require a permit down the line. Sitewire built a database of about 20,000 local government jurisdictions across the nation that it can pull permit information from. Kester, a resident of the San Francisco Bay Area, mentioned his experience working on his own home in California as an example. Where he lives, if his roof is higher than 14 feet, nine inches, it could trigger a city-led review"
Smaller homebuilders face reduced access, stricter underwriting, and higher costs from local and regional banks for construction financing, increasing reliance on alternative private credit draws. Sitewire added two AI-driven products, BudgetIQ and PermitIQ, to streamline pre-construction workflows for small residential projects. BudgetIQ analyzes each budget line and compares local cost data to determine feasibility within minutes, reducing dependence on general contractor estimates. PermitIQ queries a database covering roughly 20,000 local jurisdictions to flag specific project elements likely to require permits, allowing builders to anticipate permitting reviews and potential project delays.
Read at www.housingwire.com
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