Everyday you hear stories about the average Joe who goes out and develops a block of land into two or three units and makes a killing. Could it really be true, is it possible for a normal person to make money by developing a property?
Well yes, it certainly can be true. You don’t need any special skills or qualifications to develop a property. What you do need though is some great advice, a bit of luck, some deep pockets, and lots of patience.
You will need to understand the basic guidelines of property development, and how the process works. That means you need to know about council zonings – such as can a block be subdivided, can I build 2 or 3 units on the block, can I build a house behind an existing house. That’s the first thing to find out, what you can do with the property you own, or are intending to buy.
The great thing about property development these days, is that you don’t need to do it alone. In fact, there are many boutique property developers willing to guide you through the development process, or partner with you on the development. Professional builders such as Weststyle Design and Development, Integrity Builders, Mondo Exclusive Homes, Cicirello Homes, Sovereign Building Company and the Dale Alcock Group – all seasoned property developers, can and will assist you with all the planning, approvals, and advice on the costs and the timeline of your development. And yes, you will get great advice from these builders, so that .
Property development is really all about increasing the value of the land that you have bought, by changing the land into something new, by subdividing the block and building a new home at the back, or demolishing an existing property and building new property(s), or developing vacant land. You can create more value out of the land by adding to it. There are many options available to you, but it depends what you buy, and how much money you have to develop, and the type of area you are building in.
Once you start a property development you will always have the knowledge of how to do it, and you will start to look at property in a whole new light. It will forever be in your mind, and you will see opportunity everywhere. Where once you saw just a block of land, you will now see the potential for five villas. Where once you would have driven past an old house thinking what a dump, you now say what an opportunity to subdivide and sell off the back block, and renovate the existing house at the front.
So where to begin? If you are serious, any of the builders listed on out property developers page will happily talk with you and offer their advice. That’s the best starting point, someone that is honest, can partner you along the way, and help you achieve a good return for your risk and your efforts. Good luck!