When people talk about property development I see that many only think of big developments, something that only the big boys would do but in fact there are several property development platforms around, so lets run through them here.
Lets start from the small scale work our way up!
You own a fair size piece of land with a bit of wasted space at the back. It’s not big enough to totally subdivide into another block but what you could do is a Build a Granny Flat in the back. Granny Flats are a great way to accommodate elderly parents, adult children or any family or friend member. Provides them with a little bit of independence while still close enough to be watched over. This will also increase the value of your property and rental yield.
Single Bedroom Homes
With our market prices of today more and more people are looking for affordable options in the market place. An increase in the baby boomers, investors getting into the market and even the young First Home Buyers who just need to get a foot in the door of property ownership, a One Bedroom home is a perfect option. With the right applications to council and correct design this can provide a great income stream if you rent them out and or increased wealth as each property will obtain it’s own individual title.
If your one of the fortunate ones to be sitting on big parcel of land that could be transformed into a duplex or triplex site then your on a winner.
You see the value is in the land and if you can subdivide that land to more parcels all your doing is creating cashflow an equity from something that has literally cost you nothing. This obviously needs to assessed correctly conduct a feasibility of the idea and of course ensure you meeting council requirements.
Land ONLY or House & Land Packages
For those sitting land owners whom have had farms or bigger parcels of land the opportunity is available for you to develop the land into mini developments. I’m talking like 10 – 20! With these types of development you have two options you could look at.
Option 1 – you clear the land and develop into the lots and sell off the lots for individuals to build their homes on as they so desire.
Option 2 – And if funding allows is to develop the land and provide completed House & Land Packages fully built so buyers can just move straight in. This option will return a higher ROI but also does take a lot more financial investment and time to complete.
These opportunities are usually conducted by property developers or in Joint Venture agreements between owners and developer. There is a lot of planning, feasibility, infrastructures, council requirements and lots lots more involved in making this come to life. Though the risk is high so is the return on offer when its done correctly.
Perth has plenty of Urban infill across the metro area to be developed so there is lots of opportunities for anyone looking to put on a developers hat.
No matter what model your considering the team Jardim Property can help you every step of the way. Besides doing our own developments we also specialise in Project Management of developments for our clients ensuring them the highest return possible is obtained in their projects with the minimalist of stress applied.
Feel free to contact us for a NO OBLIGATION chat as to how we can help you with your next development.