All over the country, surveyors and contractors are directly addressing Australia's much-reported nationwide housing crisis by ensuring that the housing supply increases and that more affordable homes than ever become available on the residential market. Property development has a key role to play in this process, by locating and acquiring the best existing properties and undeveloped parcels of land and ensuring they become places where people will be eager to spend their time at home, at work and at leisure.
What does a property developer do?
A good property developer is part investor, part project manager and part regulations expert, bringing together all the different threads of the process. One of their main tasks is to assemble a team of people who will be able to cover all the stages of development. Property developers will need to work closely with lawyers and solicitors, quantity surveyors and property consultants, architects, builders and contractors and interior designers to see a job through to the end. Many are trained in another related area before they take on the task of property development as a whole, so they may take on one or more of these roles themselves alongside the other professionals whose services they engage.
Property developers will often take a 'top down' view of a parcel of land, looking at the community as whole rather than any individual property within it. This means that if someone near you is selling their home, business or land to be developed by a professional firm, it's worth contacting that same firm about any property you're interested in selling — the more options they have the more flexibility they can work into their plans.
If none are working in your area, however, that doesn't mean this isn't a useful avenue for you! Some property development firms are available for hire, meaning you can engage their services yourself for some expert assistance in getting your property sold.
How might a property developer increase the value of your property?
When privately contracted, property developers will be able to help you get the best price possible for the property you're trying to sell. Depending on your arrangement with them this may happen with no upfront cost, with the developers rather taking a percentage cut of the final price.
In some cases, they'll recommend you take a legal route and subdivide the property before sale so that it will be of interest to multi-use developers. In others they'll help you apply for planning permission for extra buildings or a change of use, to bring your property in line with what developers in the area are most interested in purchasing. If you're selling a home, however, the changes might be a little more straightforward! A residential property developer will be able to advise you on which changes will add the most value to your home: a new kitchen, a renovated garden, and maybe even an extra amenity such as a swimming pool or a loft conversion.
Whatever your questions, a property developer is perfectly placed to help you get the most value for the land and buildings you have to sell--so contact a firm working locally before you get in touch with real estate agents, and let them take some of the stress off your hands. For more information on property development, contact a professional near you.