As you know that money matters in any business to become successful, so to decide you must focus on expenditures. Let us look at the options you have.
Hiring A Freelancer: Many freelance developers prefer working with entrepreneurs for software development MVPs and prototypes. You can find several freelance platforms to discover developers that can meet all your needs, such as freelancer.com or upwork.com. Write down a list of features, develop some mock-ups of how you want the site to look, along with the technology that will best fit your product. Obviously, the developer will have his own opinions on technology and tools, so make sure you know the right and wrong. The cost of MVP development that a technically advanced developer will charge on average is $12,000-$20,000. Do not skip getting proposals from a few developers, you must necessarily like to compare the cost.
Going In-House: In-house development lets the team be fully involved in the project, which makes it the first choice of many CXOs. In an MVP development process, the in-house developers provide transparent relations and clear communication. Regardless, the quality is your liability. Your developers are more motivated on the success of the company, though. When you start with a small budget, that may be a challenge. You must use an MVP cost calculator to analyse if this is a good option or not.
Local App/Web Development Companies: Hiring an MVP app/website development agency can turn out to be an expensive choice. The companies manage everything all by themself. Apart from this, there can be communication and expectancy issues. Considering a project completion may take up to 6 months, the cost of MVP development may shoot up to $96000 in total or $64,000 per month.
You can read more here: https://www.yourteaminindia.com/blog/cost-of-mvp-development/
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