The appeal of property development is largely growing. Here are some of the most popular property development strategies:
- Buying residential property to renovate
- Buying commercial property to convert to residential
- Building a second home or commercial premises on your property
- Buying land to do a ground-up development
- Buying land to get planning permission and sell on to another developer
Residential property is a great starting point for first-time developers. Here are some things to bear in mind:
- Plan a profit margin
- Be prepared to walk away
- Profit is decided at the beginning with your purchase price.
Every property has a ‘ceiling value’ which is the highest amount that the property can be sold for on the open market. But even the most high-end fittings and finishes won’t achieve a price above the ceiling value.
Be sure to take advice from estate agents, sometimes open plan living can bring more value than an extension.
Nevill Developments is an Essex-based property development company that specialises in residential property. Our mission is to produce homes that will stand the test of time for a legacy of families to enjoy.
If property development is something of interest to you then get in touch with us today, we can look at either buying the opportunity from you or coming to a joint venture agreement.
Call us today on 01206 700 124 or email info@nevilldevelopments.co.uk.