Subdivision is the process of dividing a large block of land into many smaller blocks. Land subdivisions are often carried out by developers, who after dividing the land might construct buildings such as, homes or sell the pieces of land.
In theory, land subdivision might sound like an easy process: you simply buy a huge block of land, split it into a few blocks and then sell these blocks for a profit. However, this is not the reality as subdivisions can at times be quite a complicated process. Read on for more information regarding land subdivisions for development purposes:
Get council approval
Before you bring in a land surveyor to divide your large block of land, you'll need to get an approval from the local council. Every local council has its own regulations regarding subdivision. Make sure that you're conversant with these regulations, before you purchase a piece of land for development.
You should note that getting approval from local councils is often a time-consuming process and there is no guarantee that the approval will be given. Generally, to get an approval the land must meet the planning council's minimum lot size. Another general requirement is zoning. Many local councils usually disapprove of developments in certain zones. For instance, if your development plan is to put up townhouses, you must first ensure that the area or property has been zoned for such structures.
Appoint a team
One of the most time-consuming mistakes made by some developers is do everything by themselves. While doing this might save you a significant amount of money, it could also cost you huge losses. For instance, if you do not engage a property lawyer when buying your piece of land, you may end up with faulty paper work, which may get your approval request denied by the local planning council. To avoid wasting your time and money, it is important you employ a team of professionals from the very beginning to help you with your project. A typical team required in land subdivisions for development include:
- Property lawyer
- Urban planner
- Real estate agent
If you want to make profit through property development, then land subdivisions can be a quick way to make huge profits. However, it is important to do your due diligence and get as much information as possible to help you make sound decisions when buying, subdividing and developing land. You should also consider hiring the relevant professionals to guide you throughout this process.