Profitable Property Development
Property development can be very lucrative, but it is not a quick or an easy journey. In fact, many construction and property degrees require a minimum of four years full time study at university. Multi-unit property development is a complex and costly endeavor, and in order to get the most from your investment, you need to be aware of the potential pitfalls.
Newer developers can avoid a lot of these risks by engaging a specialist property development design and construct team like delcon. delcon is one of the leading Melbourne property development builders and can support you every step of the way.
Our turnkey service sees us managing the client’s project from design to completion. We use our experience gained from over a decade in the industry to maximise returns, and educate our clients about the process along the way.
Some of the key elements to a profitable multi-unit property development, include:
Planning
The property development process requires extensive planning and attention to detail, and the project must be managed correctly in order to minimise potential risks and maximise profit.
This process starts with a trusted financial planner or advisor, experienced in property development. They should be able to assist with sourcing financial investment, determine the feasibility of your project with your circumstances in mind, and manage your budgets and financial projections for your development.
Once you’ve determined that a property development is an investment you’d like to engage with, and you have a specific project in mind, you’ll need a more detailed feasibility assessment. delcon design and construct offer a full project feasibility assessment free of charge, for your Melbourne based multi-unit development. We can advise you on the likely costs and return potential, which is vital to ensure you don’t end up in the wrong investment. For more, click here.
Project management
Having the right team of reliable professionals on board is essential throughout your project
At delcon, our turnkey solution offers an entire team working for you to bring your development dream to reality.
By choosing a turnkey solution, it makes your life simpler by taking away the stress and legal requirement to pull together a qualified and experienced project team – as we have already done all the hard work!
Design
A specialist multi-unit building designer is crucial to maximising your investment success. Aside from the functional design of your dwellings, an experienced design team can advise which dwellings will comply with local laws and zoning.
At delcon, our building designers are specialists in Melbourne property development and will work with you to create your dream development. Our designers can efficiently advise you what will suit your location best, how to optimise your block of land and comply with regulations and local requirements, as well as minimise cost and stress.
Location, location, location
Location will make a major impact on the success of any property development, and especially a multi-unit development.
Researching Council plans, public works projects and commercial developments in your targeted areas will help to provide you with an indication of the demand for your type of project based on population.
You also want to make sure you choose a location that offers conveniences for your potential buyer. For example, if you are planning for families then a location or site closeby to schools, shops and transport are great location choices.
Timing
Although you can’t control a lot when it comes to the timeline of your development project in terms of planning approvals, by engaging a specialist design and construct team you can be sure that your development will progress as efficiently as possible.
Our project managers have over a decade of property development experience in Melbourne. As such, our clients benefit from established networks and procedures that assist in progressing their project on the quickest timeline possible.
In property development projects, timing is everything. A project held up for planning purposes can extend loans and interest repayments can quickly eat into your profits. This is just reason to ensure an experienced team is involved early on in the planning phase, and through to completion and subdivision.
The right completion option
Knowing your end goal is crucial when planning a development.
Do you want ongoing revenue from rent? Do you want more equity? Do you want a larger cash payout? Perhaps it’s even a combination of these things, or perhaps you’re developing for personal and family dwelling purposes.
In one of our recent blog articles, we discuss your options with a property development, click here: https://delcon.net.au/development/what-are-your-options-with-a-property-development/
Selecting an experienced local design and construct team will help streamline your project from commencement to completion. Not only does this minimise risk and stress throughout, it also gives you the best chance to maximise your profit. Contact delcon for a confidential, obligation free discussion today on 1800 335 552 or email info@delcon.net.au