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Questions About Developing Property – Are You Ready to Answer?

Questions About Developing Property – Are You Ready to Answer?
Do you have clients sitting on undeveloped properties? Or maybe you have clients looking for undeveloped properties? If you do, then they will eventually ask you when and if they should subdivide or develop that property. When they do, it is critical that you slow down and NOT answer that question too quickly.  There is a lot of information and fact gathering that must occur before you answer that question.
Here are my top 11 things that every homeowner who is considering developing must know.
LOCATION
Land itself, even without a home on it, can be a good investment. The challenge is determining the true value by evaluating potential use and demand.  Location is paramount in determining value.  Tiny little houses in the middle of bustling downtown neighborhoods can sell for top dollar due to the supply of land in that area.  A large lot that can be subdivided into two lots can also sell for a pretty penny.
ZONING LAWS
The value of land is impacted by zoning laws which determine what you can and can’t do with the land. Your client must check current property zoning regulations for their ... more

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