When you’re in the property development business, you know how important choosing the right site for your next venture is. Often, the right location and site can make or break a project, so choosing correctly is pivotal. But, what is it that makes a site suitable? What should you be looking out for when you’re locking in the perfect spot for your multi-level development? Take a look at our top tips on how to find a site that’s suitable for multi-unit developments.
What should you look for when looking for a suitable site?
When you are looking for the right site for your multi-unit development it’s important that you take your time and choose the right spot. Knowing what amenities and benefits the area can provide to you and your buyers will assist in choosing the perfect spot. We recommend you take the following factors into account when finding a suitable site.
Nearby public infrastructure
Nearby public infrastructure is going to be incredibly important when choosing the right site. Public infrastructure such as retail shops, hospitality venues, public transport and entertainment precincts are going to be one of the key features that attract buyers and families who will want to live in the area. A well-developed and thriving nearby public infrastructure will often be at the top of many buyers requirements as it can directly impact their quality of life. This, in turn, will make your potential development more in demand and potentially valuable.
The desirability of the suburb
Understanding suburb desirability is also key. Is this an up-and-coming area that many people are flocking to? Is it an established area that has shown strong desirability historically? An area where people want to live and a new multi-unit development will receive strong demand? Understanding how your potential buyers perceive the desirability of a suburb will assist you in deciding if it is a suitable site.
With many young families wanting access to great schooling for their children, having great school zones nearby is going to be incredibly important to many people. Generally, being in the “right” school zone is going to be a huge draw for many families and can impact just how suitable your site might be for a multi-unit development. Having a residential building in a particular school zone can not only impact the demographics of the area, but it will also significantly impact the value of property prices. Keeping this in mind when finding the right site will help you ensure that your multi-unit development is the right property for the area.
Orientation of the land
The orientation of the sites that you are looking at are going to have a significant impact upon whether they will be suitable for your needs or not. Understanding how orientation of the land impacts liveability for future owners is important. Orientation, views and sunlight particularly will impact everything – from energy efficiency of the units and the building as a whole to whether or not future owners want to buy in the first place. Getting sufficient sunlight and good views can be a deal breaker for many. With this in mind, choosing a site that will provide plenty of sunlight and some great views can not only increase demand but impact eventual property values.
Nearby land and housing developments
Choosing an area where there is ongoing development should also be high on your list of important aspects. Finding an area where there is plenty of continuing development will ensure that you won’t be building in an already saturated market and that there will be plenty of demand for the property that you are planning to provide. Finding a local market that is established but beginning their ongoing development will provide a suitable site for your project.
Shape of the land
The shape of the land is going to impact just how effectively you will be able to execute your ideal property. Awkward shaped block of land will limit many options and may force you to have to alter your design which can result in the loss of many features that may have set your project apart from other multi-unit developments. Getting the right shaped land for your vision is important.
Costas Constructions can help you out
If you are looking for the perfect construction team to assist you with your upcoming multi-unit project, get in touch with our team today. The team at Costas are industry experts, boasting many years of experience building multi-unit properties of all shapes and sizes. If you need a a construction team to help you complete your vision, we can help.