With the growing population of major cities in Australia, investing in residential developments is a wise move. If you own a vacant lot and want to use it as an investment, you can talk to developers in Perth, Sydney, Melbourne, or any major city and they can turn it into a profitable land.
Here are the steps often taken by development companies so that you have a better idea of the process:
Experienced Perth development consultants will first asses your property through a land survey. They will then conduct a zoning process to accurately determine how your property will fit the local planning schemes. A feasibility study is then done in relation to what the survey and zoning has yielded. This is to set your expectations based on what can be done to your vacant lot.
Quotes and Concept Preparation
Based on the site assessment and feasibility, your consultants will tell you if duplexes, apartments, or even a condominium building are the best options. They will prepare concept sketches for you to approve, and they will give quotations on the costs. You can choose from different packages to maximise profit potential.
Design and Contract
Once the quotes and concepts have been approved, the Perth development consultants you hired will then deliver contractual drawings. Once you’ve approved of the final plans, they will then draft a final building contract for you to review and sign.
Your trusted Perth development consultant will then help you secure permits to meet the local building authority standards. With their dedicated support and advice and structured process, the necessary papers for your property development will be completed and approved in no time. With their experience in the construction industry, they will have maintained a strong relationship with local authorities.
Construction and Handover
When the permits have been approved, it’s only a matter of time until construction commences. The expert team of property development consultants you hired will supervise the construction for your peace of mind.
Once occupants have started renting out your properties or buying units from you condominium building, you will thank your property consultants for efficiently turning your vacant lot into a high-profit investment.