How To Select A Site For Property Development Selection of the right site is the most important aspect of property development. It can actually make or break a deal. Whether someone is a seasoned investor into real estate or one who is absolutely new, it is imperative to know a couple of things that form the basics of site selection. Since property developments go beyond the financial aspects of properties and delves much into state laws and several restrictions, it is important to know which site would be most suitable considering an investor’s purpose.

1. How To Select A Site For Property Development
Selection of the right site is the most important aspect of property development. It can actually make or
break a deal. Whether someone is a seasoned investor into real estate or one who is absolutely new, it
is imperative to know a couple of things that form the basics of site selection. Since property
developments go beyond the financial aspects of properties and delves much into state laws and several
restrictions, it is important to know which site would be most suitable considering an investor’s purpose.
Peter Brozinoski of ProjectFacilitator.com.au who has been into the real estate industry for almost two
decades now clearly segregates the purposes. He says that an investor must know if he is going for the
property development to redevelop a town hall or develop a new property. In either case, one should be
clear with the ultimate vision; it may be for the purpose of using the property as a rental or sell it
outright to make a profit. Peter Brozinoski stresses that these are some of the factors that are needed to
be considered even before driving out to visit a few sites.
Once the purpose is well defined, an investor must physically go out and see all the sites himself and
assess every site from the local perspective. Every neighborhood and suburb has its unique
characteristics. A lot of local factors would eventually determine if a specific property development plan
that has been conceived can actually be materialized or not. Peter Brozinoski prefers his clients to steer
clear of any site that does not make an investor feel good instinctively. At the same breath Peter says
that one must always weigh in the options from the perspective of laws, scope of development and an
investor’s purchasing power and not from the heart.
A site at a neighborhood that does not have too stringent local laws, has scope of real estate
developments in the foreseeable future, a possibility of a few commercial developments, can really be
ideal for property development. It is important to plan while choosing a site rather than after selecting a
site. Peter Brozinoski goes a step ahead and recommends that an investor must have an arrangement
with the site owner wherein a property development plan can be submitted to the local or state council
for approval to be sure that the investment would certainly bear fruits.
As long as a site has the potential to serve the purpose of investment, it is a viable option.