The four real options
Australian residential developers have four real choices for running a feasibility: a spreadsheet (Excel, usually), a downloaded template, legacy desktop software (EstateMaster, Feastudy, ARGUS Developer), or modern feasibility SaaS (Feaso and a small handful of others).
What to actually look for
- AU-specific cost stack. GST, statutory contributions, S-curve finance drawdown, agent fees on completion. If you're working in Australia, this isn't optional.
- Monthly cashflow, not annual. Annual rollups under-state peak debt — the very thing your senior lender tests against.
- Scenario comparison. A real residential feasibility involves at least three scenarios. They need to live in the same project, not in separate files.
- Web-native access. You need to open the model on the site visit, not back at the office.
- Output that's IC-ready. A clean PDF, not a print of a spreadsheet.
Where each category fits
Spreadsheets are right for one-off bespoke calculations. They are wrong for the recurring feasibility workflow — too much maintenance for too little structure.
Templates are a frozen guess at your project. They get you started, but the first change usually breaks something.
Legacy desktop software has decades of feature depth and is well-suited to large multi-stage commercial projects. For boutique Australian residential, it's usually more tool than the job needs.
Modern feasibility SaaS — like Feaso — is built for the recurring feasibility workflow. Web-native, fast to onboard, sized for residential.
How to decide
Match the tool to the workflow. If you run two or more feasibilities a month, a structured tool pays back inside a month. If you run one a quarter, a spreadsheet is probably fine.