Are You Thinking About Subdividing Land?
Posted on: 9 December 2020
Are you thinking about setting up a subdivision? If you have some land that you want to build on, then creating a subdivision is often the most practical option. Selling a large piece of land will not generate anywhere near the level of income that a completed subdivision or even the sale of individual plots could bring. If you are planning a subdivision, then you can't simply place properties randomly on your plot of land. If you are going to make a success of your subdivision, you must plan carefully to make certain that each property can be built in such a way that the entire subdivision becomes a desirable place to live. Here are three of the most important things to consider before you start work on the ground.
How many homes do you want to build?
You might think that the number of properties that you can build on a subdivision is only limited by the size of the piece of land, but that shouldn't be your only consideration. When you are thinking about what you should build, then your first thought should always be to think about the area surrounding your plot of land. When you are building homes, it is important that what you are building is suitable for your area. Think about the people who live nearby — are most properties owned by young families or older couples? How does the value of nearby homes compare with what you want to build? A subdivision is far easier to sell if it fits in well to its neighbourhood.
Where do you want to build?
In addition to the size of the individual properties, you must think about their positions on the plot. If you place the properties haphazardly, then you could end up with a situation where every lot is a different size and where access to some properties becomes very restricted. It is far better to work with a qualified surveyor to divide your land in the most practical way with fairly evenly sized plots and with good access not just for the prospective homeowners but also for the utility companies who will need access to install their services into each home.
How much building work do you want to do?
As the landowner, you always have options. It makes sense to ask a surveyor to draw up plots on your land, but after that, you could build on the land or simply sell it on with permission already granted for each of the homes. You must decide whether you want to take on the potential risks and rewards of carrying out the building work or whether you are content to sell on the land and let someone else complete the building work.
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