Resi-CaseStudy-Dulwich-01

A Guide to Starting Property Development

Property development has become an area of keen interest for many entrepreneurs in the UK, as property continues to survive against other modes of investment in increasingly-difficult economic times. Property development is an innocuous term, though, which belies a much more complex process. What can you expect when it comes to developing property, from first identifying land on which to build?

Finding Land

Naturally, the first step in any property development venture is identifying and procuring the right land on which to start. Land is a valuable asset with or without land, but choosing land on which to build is much more difficult than it might first seem. Some plots of land are nigh impossible to build on, while many more others present unique difficulties associated with building.

A good plot, then, has two sets of criteria to match. The first is the same set of criteria that any property for sale may be measured against: location, amenities, transport links and other equivalent considerations. The second relates to construction feasibility – meaning the plot you choose should present minimal (or, at least, inexpensive) roadblocks to planning permission and eventual construction.

Architecture and Planning

With your plot of land chosen, your next step is to enlist an architect. Whatever you intend to build, you will need an architect to realise your vision – even if only to help translate your requirements to the plot on which you’ll be building.

Whatever your station as a property developer, though, it is unlikely that you have the in-house skills and knowledge necessary to create architectural plans suitable for construction purposes. Architectural services are indispensable to your goals, and will ensure you have practicable plans with which to proceed.

Construction and Materials

Construction is the next step, though you’ll first need to ensure you have the appropriate permissions for your project. This can be a simple or a complicated process, depending on the specific plot of land in question and on the proclivities of your local authority.

Assuming all works are approved, the construction process can begin properly. This is where a great deal of your investment will be allocated, between securing skilled workers and ensuring they have quality construction materials like concrete blocks key for insulating the property, with which to use for the project.

Inspection and After

The conclusion of construction works is by no means the conclusion of your project. After completing your build, you will need to arrange building control surveys to ensure that each aspect of your development has correctly adhered to building regulations and modern health and safety standards.

Assuming your inspections do not reveal areas for improvement or remediation, you will be able to progress to the profit-making part of the property development process. Engaging a specialised surveyor, and the services of a conveyancer, will set you on the path to gainfully selling or letting your new build.

YOU MAY ALSO LIKE

RECOMMENDED