The Property Development Process
As a developer, the role is to take a project from the conception of an idea, right through to all the stages of design and approval, financing, construction and marketing and eventually leasing or sale of the project.
The steps below outline the general sequence of developing property:
- Conceptual idea
- Produce the design feasibility
- Generate a financial feasibility report
- Negotiate and finalise contracts
- Obtain council and referral Authority approvals
- Manage and construct the project
- Completing the project
- Sell or lease the property
PSCA are property subdivision specialists that have managed over 400 successful developments throughout Melbourne and Victoria. We handle everything from your back yard subdivisions to dual occupancy developments and multi-unit projects. Best of all, you don’t need to have any property development experience as we do it all for you.
Rather than get into the complex world of high rise apartments and major developments, we look at how to succeed with small to medium projects. Ideally, your first foray into development will be something as basic as subdividing a block of land with an existing house, and possibly building another one at the back or the side of the existing dwelling. Another scenario is demolishing an established home on a larger allotment where the zoning allows for two or three townhouses. In order to be successful at property developer, you have to crawl before you walk. Most mistakes are made with the first few projects you undertake, so it’s best to learn from a smaller development first, without having to risk your life savings.