Do you have a piece of land that you are not using? Maybe you are thinking about buying land for investment purposes. Land by itself is often a risky investment, especially since there isn't as much demand for bare land as there is for property, and land often has associated maintenance costs. Developing the land is often the most effective way of maximising your return on your investment. The only question to consider is what type of development you should build. Your choice will be influenced by your location, local zoning laws and many other things, but one option that is always popular is unit development.
What is unit development?
There are not many occasions when you want to build a single entity on your land. You might live somewhere that needs a new factory or a power station, but more frequently, you will want to divide the land for housing purposes. Unit development makes good use of the available land. Units are smaller than typical residential homes and typically have shared space, such as driveways, with each unit owning a percentage of the common property. By choosing unit development, you can sell the individual units to new homeowners and receive a far greater return than you would if you sold the bare land, or even if you prepared the land for subdivision and then sold it.
Dealing with the difficulties of a built-strata development
One of the things that can sometimes put people off the idea of a unit development is knowing how complex it can be. The good news is that you don't have to undertake the process alone. It is best to bring in a company that specialises in unit development to carry out the work. That's because managing all the details alone could soon turn into a full-time job. However, with a team of experts to manage the project, from drawing up the initial plans to ensuring the relevant permits are granted and completing all of the building work, you are free to carry on with your life, confident that the building project remains on track.
Preparing to build
If you are unsure whether unit development is the right step for you, start by talking to a unit development services company. They can arrange a survey of your land and show you what could be possible on your property. They can also talk you through the costs and timescales involved and explain everything required to get started. For more information, contact a unit development company.
