Property development can be a lucrative business but there are a few things to consider before making the commitment. The team at Ross North Developments are here to help. Often people ask the question “is property development for me?” the answer lies in the form of “why”. Why does anyone want to develop properties… there are 2 reasons. The first is to make a quick profit – build and sell – and the second – is long-term benefits from rental returns and capital growth.
If your answer is one of the above, than property development could be for you.
The journey to building investment properties can be a lengthy one and this is why partnering with Ross North Developments will make your life easier.
Many new investors have little knowledge of the property development process, and find that they run into trouble when trying to project manage it on their own. Here are a few things to consider when making the decision to become a Perth property developer:
- Know that this is not an over night project. Property developers are in it for the long haul. Expect the project to take close to 12 months to complete and in some cases more, depending on the size of the development.
- Research potential sites and make sure the area and block of land suits your property development goals. The team at Ross North Developments assists their clients to find the perfect block and even advises on specific locations.
- Know inside out the timeframe, costs; including construction and trade costs, contingency costs, and what the likely end sale value of the property will be. Ross North Developments provides its clients with a comprehensive report of the costs and potential proft margin for each and every project.
- The property design must comply with council regulations and guidelines and you must have a building permit. Ross North Developments have their very own in-house design team, consisting of architects and designers. Their expertise allows clients to have the most commercially viable design, ensuring maximum profit. On top of this they will arrange all certifications and permits on the clients behalf.
As you can see there are a number of things to consider when wanting to become a property developer. The team at Ross North Developments are here to take the hassle out of the property development process and guide each and every client on their journey. If you think property development is for you then contact our development specialists today on 08 9431 8118 to discuss your property development requirements. Our expert team is here to help!