Building a Safe Investment: Advice For Property Developers
Looking to develop?
Property development has always been an attractive long-term investment. Brexit and the pandemic has caused some uncertainty but with normality returning, and continued government pledges to invest in building more homes, property development is still a solid route.
There are different stages when developing property and you may go through many challenges or unfamiliar processes. In the end it’s all for a great outcome with the aim of generating greater profits.
Whether a first time or an expert property developer, here are some areas to consider with any project:
Where to develop?
Researching and looking into the land available is very important. You don’t want to just look at the land itself, but the surrounding area. Once developed on, this can have a huge impact on prices. Get ahead with research, it’ll be beneficial in the long run.
Maximise value of the land
Make the most out of the land to optimise profit and increase revenue. If you are a first time developer or unsure, getting help with this is crucial to fully utilising the land.
An expert will be able to advise, suggest and offer critical insight. There also needs to be the consideration for the land in the future, how will it affect you in the long run?
You may not be an expert for every stage of property development which is where connections will come in handy. Working with people you trust and know will help you and not hinder you. You connections are vital with any project, they will be the ones to help it run smoothly and work towards the same goals you have.
Marketing of your development
When your development is ready and built, this is where it gets exciting. Do you plan to market both offline and online? What marketing tools will help you best? Or, if it isn’t finished and the option to sell before it is fully built is the right route to take, you may need CGIs to assist in selling.
There are many ways to showcase your development, strategically marketing to the right buyers through the right channels will require planning and dedication.
Selling the development
When it is time to start earning the return on your investment, how do you plan to do this? Will you choose an estate agent? Do they offer the services you need? Will they understand your project and be able to work seamlessly with the brand? It’s worth considering these and getting information from them to understand how they work.
If you are a developer in the West Midlands Nicol & Co can assist with whatever your project or whatever stage you are at. Whether you’re just starting out or need some guidance on specific topics or project stages, we have years of experience behind us.
We can talk you through each step or put you in touch with the right people. We’re proud to be part of the Land and New Homes Network and work alongside Thomas Mae Land & Property Development Consultants to help our clients get the most our of their projects.
Our door is always open, get in touch and find out how we could help you and your project today.