So ive been wondering what steps (detailed) do developers use when scouting for a site. I have read the post from oc1; Developing 101 and although there is some good information i tend to find myself going through a negative loop.
I find a property listing, refer back to the zoning maps…. then fail. Or if zoning is good then i look at the frontage….fail.
Is this just how it goes or is there an easier way or any tips?
One thing you would do is pick a suburb and look at the developments for sale, say on re.com.au. Try and then determine how big the blocks are for those developments. So, for example you could look at Suburb A which has a few developments for sale. Punch in the street address in google and click the link for onthehouse.com.au. This will tell you how big the block is (generally accurate).Then go back to your searches and look for property on a similar land content. Do the checks for zonings, overlays etc. If there are no/minimal restrictions you may have found something.
Also, better located land in a suburb generally makes it easier to sell.
Hope this helps.
Oscar
We look for larger projects but the real problem is making them stack up
I find that if they have permits then they are overpriced, or they are badly designed, or small. I tend to look at property that will appeal to owner occupiers, because these will not only make great investments but will also have stronger capital growth.
If you look at sites that are not permitted then you need to look at where they are, because some councils means that you will have to appeal a negative ruling which in itself could take 18 months. Then is the site close to shops and public transport. All of these things will make a huge difference to how easy the project will be to do.
Nigel Kibel | Property Know How
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Better idea, go to http://www.townplanning.com.au which has zoning maps and overlays as well as a measurement tool so you can measure the area of the block you are are interested in and any other block in the area that is of interest. as with onthehouse.com.au the measurement accuracy is not perfect, but it is certainly sufficient for an initial investigation.
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