If you are about to undertake your first land development project, you might find the following advice to be useful.
Make it a small-scale project
Whilst you might harbour ambitions of taking on a major land development project, it is best to keep your first one relatively small. If this is your first attempt at constructing multiple buildings on a plot, then you will inevitably make a few mistakes, some of which might be expensive to resolve. And if this is a major project, which involves the creation of dozens of buildings on a plot, you may find it much harder to cope, financially, with the fallout from any errors that you make,
For example, if you fail to get the plot's soil tested before laying the foundations for your buildings and later discover that the soil is expansive (meaning that it is likely to shrink during drier periods of the year and expand when it rains heavily), this could lead to the foundations of these buildings developing subsidence. This could be highly expensive to fi, and could not only reduce the value of these properties but may also make them less appealing to prospective buyers.
If you have built dozens of properties and they all have this issue, it could cost you an enormous amount of money to fix this problem. Conversely, if your project is smaller and consisted of building just ten properties or less, the financial ramifications of your mistake will be a lot easier to deal with.
Seek out the help of one of your local land development consultants
As explained above, it is almost inevitable that you will make at least one or two mistakes when you carry out your first land development project.
However, you can drastically reduce the likelihood of serious mistakes being made and give yourself the best chance of generating large profits by asking one of your local land development consultants to assist you throughout this process. They will be familiar with all of the common pitfalls that many first-time land developers succumb to and will be able to warn you if a decision you want to make is likely to have a negative impact the financial outcomes of your project.
Additionally, they can offer advice regarding how to construct the buildings so that they utilise and highlight the plot's best features (such as its scenic views) and provide guidance on how to design and build the structures in the most efficient manner possible.Share