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Calorique Blog

Our blog is dedicated to Home improvement, Energy saving, New Energy Sources.

How To Become A Successful Property Developer

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Property development is a popular and ever expanding field, with more and more people giving up their day jobs to follow their dreams, with an opportunity chance to watch your hard work turn into reality and ultimately make serious profits. However balancing cost, quality and a reasonable time frame is important if you are going to avoid your dream turning into a nightmare, so following these simple rules will ensure that your project comes off without a hitch.

Build the Vision

Before you buy any land or property, or even embark upon the planning stages, every property developer should have a clear idea of their goals and why exactly they are choosing a specific plot. Are you renovating a period property to its former glory, or building a modern home in a kid-friendly area that’s perfect for families? Remember that at the end of the day you need to be able to sell your house, so avoid indulging in personal taste and have a specific market for your development.

Plan and Budget

It seems like an obvious thing to say, but you would be amazed at how many people underestimate costs and time frames in their enthusiasm to get started on a project. One of the most important things that can make or break a property developer is planning, and failure to take account for every expense, delay and potential problem might give you a nasty shock later down the line. 

Budget your project and leave a contingency fund in case of emergency, and that way you will already have factored in any unexpected costs in case they do arise. Make sure that you have all of the necessary planning permission, and where possible get quotes before you start for jobs such as stonework, scaffolding, architecture and electricity work. Have a clear vision of what you want, and know exactly what needs to happen to achieve it.

Outsource to Reputable Traders

They say that if you want something doing, do it yourself. But when it comes to property development, outsourcing is essential. However it’s also the area where you’re most likely to slip up if you don’t do your research. Whether you’re looking for a stone mason, electrician, plumber or other professional, make sure that you choose a reputable company with the necessary accreditation, a sound portfolio, and a few good references before you go ahead. Getting the best quote and the most convenient schedule might seem like a priority, but if the end result isn’t up to scratch then it could compromise your whole development.

The success of a property developer doesn’t just depend solely on hard work and determination. Of course, planning, budgeting and a vision is key, but you also need to remember that you are reliant on the market wanting to buy your house. And the construction workers who will make it happen. However if you keep your mind on the end goal and an eye on quality workmanship, there’s no reason why you shouldn’t succeed.

Article written by freelance copywriter Kelly Gilmour-Grassam, who loves fine food in interesting places. Follow her on Twitter at @KellyGGrassam. This article was written with helpful information from Henley Stone.

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