What is it like when doing a building development project?
Here’s a more detailed look at what it’s like for different phases of a Building Development Project:
Inception Phase
Any property that you own is a valuable asset. But its inherent worth lies in how you develop it. The right building development will boost the resale value significantly, while uninformed choices will have the opposite effect. To start a feasibility study, a site and zone analysis is a necessary step to be included. The feasibility study allows developers to assess whether the proposed project is financially fruitful, compliant with regulations, and can be built within the assigned time frame.
A site analysis can show how to best use the property lot and how to develop it for boosted resale value. It can help to:
- Understand the merits and demerits before investing in a building development
- Assess the scope of developmental avenues for your property
- Identify potential constraints that might hamper the development
- Evaluate the infrastructural characteristics of the property
- Understand the upcoming development plans around the site
- Gather information to submit your zoning request
For optimal results, in-depth site analysis and zoning feasibility is recommended at the start of the design phase.
Before going into the design phase, or even discussing with the finance providers, a clear vision of the newly developed buildings should be established. For inspiration, tour communities / open houses / and trade fares, read magazines, and browse online directories to find examples of the buildings that catch your eyes. Collecting photos along the way will help the communications with the stakeholders, designer, specialists, and the trades people down the path. It is also important to categorize the specifics into “must have’s”, “nice to have’s”, and “non-negotiables”. It is important to talk to the family stakeholders to make sure the proposed development meets everyone’s expectations.