Can You Develop Your Property?

Would you like to know if you can develop your property?

Would you like more information on whether (or not) you can develop your property? If so, get in touch with today. Call 03 9568 8000 or click here to get in touch.

If you’re thinking about developing your property – take some time to investigate a number of things before you jump in to spending a lot of money.

Technical information to develop your property

The types of things that people should be investigating are technical information, predominantly.

For example: title information, land information such as overlays, restrictions, covenants, caveats.

Out of the technical information, what I’d like is to work out what can be done on that development site.

  • Are we talking the ability to build units?
  • Are we looking at building townhouses?
  • Are we looking at building apartments?

What can we do to get the most out of that site?

It is all about maximising the return, and getting as much money out of the property – so you can go and enjoy it in other areas of your life.

If you haven’t got the technical information, it’s a really good idea to…

Gather measurements

The site measurements meaning the size of your land’s dimensions. Also the site plan – where the home currently sits on the land.

The main measurements we want are:

  • Setback measurements (the distance the property is ‘setback’ from the front boundary of the property). And…

The complete land measurements

  • The width and depth of the whole block.
  • The width down the side of your driveway.
  • The distance from the back of the house to the back fence.

These are all key measurements in determining what can be done to develop the property.

Once you’ve got the measurements, and you know what you can do on the site, you’ve got choices.

Your Options

  • You can sell (often for a lot more if you have a property suitable for development)
  • You can also then look at in completing the development.
  • You can then sell part of the land to a purchaser who will go and obtain all the plans and permits, and they can on-sell.

The benefit of having somebody else complete the project for you, in many ways is saving you the cost, the outlay initially of having the expense of completing the development.

The second benefit there is you’ve got someone who’s a professional who does it all the time, who knows the way around the process, and can do the process and complete the process, in a lot faster timeframes than what you … as a Mum and Dad, or the owner of the property can do.

The best benefit if you like, is that you’ve got that money sooner, and you’re able to do something with it.

Also, it means you have designed something in accordance with what you want.

If you’d like more information on whether (or not) you can develop your property OR you would like to get an idea on what you can build on your property get in touch with our team today on 03 9568 8000 or click here to get in touch.