Property Development Advice for Perth Investors
We find development sites for experienced developers and for investors wanting to do their first development or subdivision. We also find add-value sites for investors who don’t plan to develop, but would like to hold a good development site and rent it out, planning to sell in the future when those sites have become scarce.
The types of development site we usually deal with are:
- Duplex block
- “Retain and build” development sites
- Triplex blocks
- 4 or more unit sites
- Multiple dwelling sites (for apartments)
- Single home blocks
- Blocks to add a single bedroom dwelling
- Blocks to add an ancillary dwelling (granny flat)
- Sites for SDA (Specialist disability accommodation)
FINDING A PROPERTY FOR YOU TO DEVELOP
Property Wizards can find a site that accommodates your strategies, goals and budget. Where possible, our clients aim to hold on to their development properties to build their portfolio. When buying development sites, we apply our knowledge, skill and due diligence in the same professional way that we would if we were buying a long-term investment for rental return and capital growth.
Step 1 – Initial Meeting
If you’re new to property developing, we’ll explain some of the key fundamental strategies available to you using simple diagrams and easy to understand language.
If you’re an experienced property developer, we review your requirements and budget and what type of development property will achieve your goals.
Step 2 – Determining your Development Strategy
Now that we understand where you are and what you want to achieve with your property development, we help you formulate a realistic strategy to help you achieve your goals. We look at the available development strategies and which of these might suit your time horizon, your budget and your objectives.
We consider buying to develop immediately and the different ways to do this, compared with buying to develop later and the best ways to do this.
We also consider strategies where you can stretch your budget by staging the development, enabling you to become a developer with a smaller budget than you may have thought possible.
Step 3 – Property Development Search
Once you give us the go ahead, we review the types of property and suburbs might match your goals and budget. We also consider zoning, rezoning, infrastructure, planning policies and supply.
We undertake a comprehensive search of properties available for sale including off-market properties from our contacts in the industry. Very quickly, we refine our search down from a total pool of 8,000 to 15,000 properties, to just a handful with the right development potential based on our tough selection criteria.
Step 4 – Property Inspection.
Once you have selected a property from our shortlist, we carry out an inspection with you on Zoom/FaceTime or in person. We look for the good and bad and ‘potential problems’ or expenses to factor in. We ensure the property is as expected or we walk away.
Step 5 – Due Diligence
Once you have decided to proceed with the development property, we conduct a detailed due diligence. We ensure the Contract of Sale includes a number of conditions that work in your favour, not the seller’s – this gives you peace of mind that the property can be developed the way we envisage.
Step 6 – Accurate Pricing
We obtain up to date information about the development site as well as comparable sales data, as this allows us to determine its true worth. In doing do, we make sure that you never overpay.
Step 7 – Acquisition Strategy
We prepare our acquisition strategy and negotiate on your behalf. By drawing on our extensive experienced, and utilising all the legal tricks-of-the-trade, we ensure you purchase the development site for the lowest price possible.
When you’re ready, we help you develop your property by connecting you with an experienced builder, surveyor or town planner to take you through the next stages of your project.
We love to help both experienced and first time property developers in Perth. To get started, simply fill out the obligation-free online enquiry form at the link below – we’ll then have one of our key staff contact you shortly. If you would like to contact us directly, please call us now on (08) 9381 7450.