Land Development Tips

Do you have an idle piece of land? You might be in a dilemma of how to develop the property. Read the excerpt below for some land development tips.

Market Survey

Hire a land development consultant to conduct a market survey on how to develop the property. He or she will do the following.

They will examine the land to determine if it is susceptible to natural hazards such as landslides, earthquakes and floods. If it is, he or she will advise what measures you should take to mitigate the risks.

They will check zoning regulations to determine the rules on land use. You cannot build a commercial property on land zoned for residential development.

The professional will also check the current demand for land to determine if subdivision is profitable.

The consultant will advise which building designs will attract clients. For instance, if you intend to construct residential buildings, expect customers to examine the energy efficiency of the premises and the availability of parking space.  

The Development Process

Below is a guide to help you develop the land. 

Design Process

Hire a geotechnical engineer to examine the soil structure and determine how much load it can bear. He or she will also advise the depth and type of foundation the building should have. For instance, wide strip footing or pier and beam foundations may be suitable if the area has soft clay. On the other hand, concrete pile foundation is an ideal choice if you plan to plant trees close to the foundation. 

Check the architect's portfolio to determine if he or she has handled similar projects in the past. Go for modern designs that will make your project stand out. It is a sure way to attract clients in the shortest time possible. 

Finding a Contractor

Conduct some background research to identify building contractors in your locality. Ask them to send a quote of how much they will charge. They should also present a plan of how they will execute the works and how long the project will take to complete. Check the contractor's terms and conditions before hiring him or her. Examine the following:

Does the contractor have a general liability cover? It is a sure way to avoid losses in case of an accident.

What works will the professional subcontract? Conduct some due diligence to ensure subcontractors will perform quality work.

The contractor should give guarantees on the finished work. Typically, he or she should conduct repairs arising from poor workmanship for 6-12 months.

The contract should protect you in case the contractor abandons the project without reasonable cause.  

Hire a real estate agent to help you market the project. Consider off-plan selling as a way to raise capital for your project.