As the world is getting habituated to doing everything online, it has brought a boon to the field of app development. As a result, many have inculcated the sudden urge to create their own mobile applications to benefit from this lucrative, ongoing trend.
Having said that, we’re sure that you’ve whispered this to yourself, “Will I be able to afford to create an application? Even if I, whether it would be worth it?”
If that’s the scenario, you’ve bumped into the right place! We’re here to assist you regarding the ifs and buts of the app development cost for your next potential venture. Let’s dig in…
Type Of Application
The application purpose will decide the intensity of funds you need for your project. Ranging from simple applications to more data-intense social media and e-commerce applications, there is a massive diversity that affects an app design cost.
For starters, basic apps include clocks and calculators that are visibly not much in trend nowadays. It takes a few days to a week to build such apps, and the cost is around $10,000 to $15,000 mark.
On the flip side, Maps and weather applications demand more effort and can cost you anywhere between $15,000 to $20,000.
And lastly, It’s difficult to find an accurate cost for social media and e-commerce apps, given the huge diversity. It may range from $60,000 to a whopping $300,000. In this, the complexity and design majorly are dominant factors that determine the investment capital.
The features and functionalities of an app are the key determinants of its market position. The more features, the larger the time, effort, and funds it demands. An app’s basic login and log-out pages may take 28 to 42 hours, while profile edits like the “change password” functionality require more. Also, creating an account and blocking users require about 66 to 90 hours.
Lastly, texting, seeing statuses, and sharing media are high-end features that demand at least 160 hours. The cost of creating an app is directly dependent on the number of functionalities it offers.
1. UX/UI styling
As the importance of user experience is growing out of bounds, and aesthetic, minimal yet intuitive app design is the need of the hour. Colors, fonts, icons, buttons, etc., contribute to the overall look of your application and attract user attention. A subtle yet understated user interface demands a wholesome amount of funds as you need to hire experienced designers.
You must save about 20% of the entire investment for app maintenance after the launch of your app. You must keep room for the after-launch expenses while calculating the average cost to develop an app. Such expenses involve bug fixing, app updates, the addition of functionalities, and improved UI, to name a few.
3. In-app purchases
Ever wondered where the payment gateways like PayPal that e-commerce apps offer you to pay your bills? Well, the short answer is in-app purchase support. This is common in the case of apps where a payment platform is required. In-app purchases cost quite a lot and can tremendously increase your expenses while building a mobile app.
It is your discretion to choose the platform you want to launch your app on. Some apps are compatible with Android OS. On the other hand, some can efficiently work on iOS only, while others work seamlessly on both platforms. You need to understand critical aspects like the market share of platforms like iOS and Android and the protocols you need to meet for launching an app on that platform.
5. Vendor Location
The cost of developing an app also takes into account the type and location of your team (follow the link you can find a detailed description of the similar experience of the company Topflight Apps). If you are hiring a freelance professional to build your app, you will naturally benefit from a lower amount of fee. On the contrary, getting your app built by an app development agency will cost you immensely.
The simple formula to estimate your app development cost
The factors discussed above are enough to give you a rough idea of what your app development budget would look like. If you are still wondering about how much does it cost to make an app, we have put down the perfect mantra for it:
Cost of app development= Development time x Hourly rate
The time required to build the app multiplied by the hourly charges will give you an estimate of building your app.
In A Nutshell
Get a good grasp of all the points we have discussed above and use them to plan a cost-effective budget for yourself. We are sure these would be of great help in calculating your app development cost without any hassles.