How much will all this cost? 

With any construction project, the old saying "Time is money" really is true. If quick completion is a priority, plan to pay for it. If you have lots of time then you may need less money. This is probably the most frequently underestimated aspect of farm planning.

Costs vary greatly by geographical location and it is best to research your particular project with local contractors, material suppliers and other farm 
owners. Again your list will be helpful. Begin breaking the list down into as 
many components as you can foresee. Then start adding a budget to each
item.

You may start with the bigger items as rough budget figures and then begin 
to itemize, for example:

Land clearing - $2,500 an acre

Grading for arena & barn - $5,000

Then interview grading contractors and ask how much they charge per day 
(plus move in and move out) and ask how many days they think your site 
might take.

Bulldozer – move in/move out - $500

Rough grading roads – 4 days @ $600

Rough grading building pads – 2 days @ $600

Rough grading arena – 5 days @ $600

Adding sub-base gravel at building pads and arena – 3 days @ $600 plus 250 cubic yards of gravel @ $10 per yard.

Total for Grading = $11,400.00

Oops! Unfortunately, this is not unlike how budgeting for a large project goes in real life. That is why it is important to have a budget for each component before you start your project. It isn’t fun to get halfway done and then to realize you’ve already spent 90% of your project budget.