It is difficult to define what property is the best for investment purposes, but if you are a developer or a builder there are key factors that can impact the true value of the property. As a construction manager or developer for a land development project, it is envisioned that there are many processes, actions, and hoops to jump through as you continue through the course of the development project. It is essential to be sensible of the results that could possibly set the design on economic imbalance.
Before considering any development plan and apportioning funds for that project, it is necessary to get the next doubts and concerns answered:
A record of survey should be offered by the vendor of the property or by his/her representative. Should this not be forthcoming because the current owner has not finished this, than it is important that one is completed. The builder will want to affirm that the terms per acre is homogeneous with the acreage of the property and is also agreeable with the title report. Another point to think about is to have both an ALTA survey and a topographic survey completed. An ALTA will provide the buyer with existing easements, right of ways, and utilities that are next to or bisect the property. The topographic survey provides a delineation of the contours of the site and gives the purchaser a better perspective of high and low points. Receiving an uncharted easement dedicated or topographic that would be unworkable to form could shoot down a project.
The zoning of the property is what the jurisdictional authorities, whether city, town or county, specifies the type of building that they will allow for the corresponding holding. Many times this is an costly and cumbrous process including planners, engineers, and lawyers to name a few. Should the developer wish to allow a retail center on what the metropolis has specified as agricultural residential, he can expect an ascending battle not only with the presiding members of the city, but also the local neighbours. Zoning circumstances should be factored in before buying the property.
The placement and serviceability of local public utility companies such as water, sewer, electric, phone, cable, fire, trash, and police can also be a pricey and time-consuming embarkation should they not be supplied to the property. Simplified research of the local utility providers will get the developer miles ahead in visualizing what they can manufacture or if it is possible at that time. An example of this could be that there is water to the property, but not sufficient pressure in the system requiring booster stations or sewer is located near the property, but there is deficient capability and thus the developer would need to increase the capacity at the waste water treatment plant.
There are diverse other items to regard as well when checking the preliminary feasibility of a development. The current conditions found in the survey with utilities and the zoning, a developer can get a better understanding of the practicability of the prospective development.