Land development is one of the best ways to improve the value and appeal of your property. Below are some vital land development tips.
Check Zoning Regulations
Conduct some background research to know what kind of developments are permitted in your area. For instance, it would be challenging to build a home if the area is zoned for industrial use. If the property has an existing structure, check whether there are restrictions on the kind of developments you can make. For example, you may have to erect a specific type of fence. You may or may not be permitted to install structures such as gazebos and patios at the front of the property.
Other than zoning regulations, you also need to check local council laws to know the process of installing essential amenities such as water, gas and electricity on the property. If you intend to subdivide the property, inquire what permits are required and how long the process will take.
Conduct a Survey
Conduct some market research to know the demand for property in your area. Some of your concerns should include;
- What amenities do customers look for in a property? Expansive lounges, state-of-the-art kitchens and appealing landscapes are a sure way to attract customers.
- What is the current value of land and homes in the area? Typically, real estate investments appreciate over time. However, it would be unreasonable to invest a lot of cash if your potential clients are looking for low-budget homes.
- Check the low and high seasons. It will help you plan the construction process.
Work With Professionals
You will need a geotechnical engineer to survey the property to examine the soil structure, underground water levels, susceptibility to natural disasters and construction challenges such as steep slopes. The engineer's report will help the architect decide the type of foundation and the supporting structures required to ensure the structural integrity of the house. Your contractor must be licenced and experienced. Below are some other tips to help you choose a building contractor.
- The professional should have the required equipment and human resources.
- If you intend to build using bank finance, look for a contractor that has handled similar projects in the past.
- Evaluate the contractor's terms and conditions. For instance, what is his or her dispute resolution process? Will he or she have subcontractors on-site?
- The contractor should have adequate insurance cover. It ensures you do not incur losses in case of an accident at the site.
- The professional must observe safety measures. Plant equipment should be inspected daily. Besides, staff should have personal protective clothing.
A building certifier will inspect and approve the construction works. Hire a real estate agent to list and market your property.