Commercial Land Development in a Nutshell
New Zealand occupies a land area about the size of Colorado. The country’s topography is one of immense beauty and uniqueness, littered by mountain ranges, lush plains and vast wilderness. If you are looking into land development as a form of investment, New Zealand’s raw land offers great opportunities.
First, you must learn how commercial land development works in the country.
Land Development in Quick Steps
Following the tried and tested process of land development is your safest bet. Here are the steps you should follow:
This stage involves a lot of work. Market analysis, feasibility studies, surveys, environmental assessments, securing of rights and permits, and arranging construction financing are just as few of the tasks you must accomplish. Working with land development consultants is important to this part of the project. These professionals will be able to help you navigate this highly technical step in the process.
This is the part where you jumpstart construction along with project marketing. Pre-leasing, if part of the marketing plan, is also accomplished during this stage.
Marketing is amplified during the operation stage. Buyers, renters and vendors are pursued most intently if quick selling is part of the plan. If selling is not the priority, this is where a hold strategy is established. Property management is another crucial work you will have to take on during the operation stage.
To ensure success in the commercial land development business, it pays to get experts’ advice. Professionals agree that potential land developers should be keenly aware of the venture’s risks. A raw land purchase is a long-term investment that cannot, or should not, be quickly liquefied. It might take time to earn profits, but the promising income is worth the wait.