Hello! I would like to give you the warmest welcome to my blog. My name is Pete and last year, I decided to carry out some home improvements. Somewhat foolishly, I decided to try and carry out the work myself. As you can imagine, it was a bit of a disaster as I do not have many skills. Thankfully, I have a friend who works in the construction and contracting service. He called in some of his friends who were able to come in and fix up the mess I had made. I am really pleased with the results so I thought I would write about it here.
The number of investors buying or putting up property in Australia has grown exponentially over the last couple of years. However, the growth is projected to work for non-residential development as residential building activities are expected to slow down over the next three years. It explains why most property investors and their contractors are turning to non-residential developments. However, if contractors and residential property developers work hand in hand with an urban planner, the current state of affairs should not be a deterrent. An urban planner plays a crucial role in property development, and this article highlights ways their advice will ensure maximum returns on investments.
Right Amenities for Right Target Market -- With home prices in Australian towns soaring, most Aussies are looking for more affordable housing. However, if investors and contractors put up apartment complexes, they are likely to attract short-term tenants, mostly single millennial. It will, therefore, force an investor to hire renovation contractors to keep the apartments attractive to potential tenants. It can be an expensive undertaking in the long run.
A town planner will, therefore, come up with ideas that will keep the property attractive to potential tenants. For instance, if single tenants are the target market, the addition of playgrounds and sidewalks will encourage tenants to stay longer and even start families. For older tenants, an urban planner will advise developers to locate developments near pharmacies.
Insider Information -- When planning to develop a residential property, it is essential for developers and contractors to know what facilities the local authority has designated for a particular area. However, most developers do not have such information and therefore end up putting up rental property in the wrong areas. For instance, a developer might erect rental property meant for middle-income tenants in a location where there are expensive dining facilities. In such a case, the chances of such property filling up with the targeted tenants will be very low.
Urban planners are capable of giving contractors insider information of possible facilities that are likely to be developed by the local authority shortly. Equipped with such information, developers can make informed decisions with regards to where to put up property to maximise return on investment.
Advice on Urban Development Laws -- There is no denying the fact that there are developers that put up property with little regard for development laws. Such actions are a recipe for lawsuits by the local council, and this consequently eats up to a developer's finances. Working with an urban planner ensures that the developer follows the necessary local development laws.Share