Your ideal development site

[albanga]

Hey All,

I am currently putting together a due diligence document for myself for selecting the ideal development site and was keen to get peoples thoughts.
But further to that I am also keen to put notes for other things to look out for (council surprises, finance surprises .etc).

I am in the process of my first subdivision and have already learnt so much! Safe to say I would not have selected my site if I had my time again (sloping to the rear, no stormwater).
I have also learn a lot about councils and how they work (or don't work to be more accurate). Things such as neighborhood character guidelines, traffic, engineering.etc.

I would also love feedback from others who have developed before and any tips they have to streamline the process, reduce costs and time.etc

Thanks in advance!

 

[freerange]

With the amount Ive just blown on retaining walls, I will say a flat block. But it sounds like you already know that one

 

[TMNT]

my ideal development site:
one that requires little or no investment
one thats guaranteed to sell/uphold its value
one there are no delays,
one that all the tradies, councils are efficient, honest, trustworthy and quality
one that has amazing profit
one that a short time frame

im still dreaming

 

[RyanMcHarg]

Sometimes I think there is more value to be found in slightly trickier sites where you may have to solve some small issues.

Normally the "perfect development sites" are the ones that you see the most competition on from experienced guys with deeper pockets, putting larger cash components into the project. I have seen some of the most profitable developments completed on properties where there may have been some issues to overcome such as overland flow or irregular shaped blocks. In saying that it is important to buy these with due diligence clauses allowing you to complete the required investigations to solve these problems, but you will find you have less competition from other buyers.

 

[Waldo]

Cheap - everything else can be overcome with $$, but if the block isn't priced competitively to make the numbers stack up, move on.

Ideally though:
- Good zoning
- Rear access (either a laneway or space down the side of the property for a driveway if you're hammerheading it). Corner block ideally (even better if its also got a rear laneway!).
- Big frontage
- Sloping very gently towards the street

I'm a big fan of retain & builds, but of course they're priced appropriately normally!