Earlier we talked about looking for a suitable property to purchase, for development and subdivision. Perhaps you don’t have to look any further than developing a property you already own.
There are many people who already own a property that is suitable for development.
So how do you know if you can develop?
You can hit the ground running in 2012 if you already own a property, by engaging Pillar+Post to provide you with a Property Development Assessment to ensure you can legally develop you site. 72 hours later, you will know whether or not you can subdivide your site, what planning and zoning controls effect your site and their impact, along with a summary of development options – how many dwellings and what type you can fit on your site, taking into consideration the sites attributes. You will also be provided with a high level feasibility which will be of use when talking to a financier.
Now that you know it is possible to develop your site (you will have completed Step 1: Assessment), we have a structured process to take you from town planning, through to signing up a builder to build your project.
Step 2: Strategy will provide you with council feedback on your proposed development, and a direction for your project.
Step 3: Concept will give you the understanding of what your dwelling/s will look like, ie where are the bedrooms, kitchen, living area, etc. You and council will also have the opportunity to provide feedback, for refining the plans.
Step 4: Application is the preparation of a town planning application, advertising and notice of decision – a town planning permit.
Step 5: Detail is where the working drawings are produced, the specification prepared and the engineering done ready to engage a builder.
Step 6: Build will leave you with your dwellings/s built, ready to sell, rent out or occupy.
Step 7: Realise is where you generate the profits through an effective sales and marketing campaign.
This is a basic summary of a process that can take between 12 and 24 months to complete, without complications. There are many layers to property development, so it is important to engage a professional who understands the process.
Thinking of developing? Engage us for a Property Development Assessment today!