The next blog is dedicated to getting you some clues for not just keeping but increasing the value of your real estate developments, it is inspired by some of the developers which are complaining about the real estate economy and how some new real estate developments are losing their value.
Look for the market in the area.
Some real estate developers sometimes forget that people are not moving into a unit or a house, people are moving into a new lifestyle and a community, so next time you find a piece of land thing what that land is offering to the future owners? Is it a developed area or is it going to be developed in 10 years or 20 years, are they getting access to their needs, such as schools, supermarkets, motorways, parks, playgrounds?
Vacancy percentages in the area, levels of rents.
Whether you are appealing to sell the property to investors or homeowner it is important to understand the historic levels of rent in the area, is it going down? Is it going up? Is it stable? These questions would tell you about the area and the economical stage the real estate rentals are in the area.
Traffic in the area
Understand the traffic, it is important to understand the type of traffic is it people commuting is it people reaching their destinations, is it going inwards or outwards, what kind of cars are driving around in its small cars, big trucks, or minivans?
Historic prices in the area
Understand the Real Estate tends to create steady trends most of the times if there are changes the market will take time to change Real Estate is one of the very few industries with fewer changes than other industries especially if you have invested in shares you will know what I am talking about.
Similar developments performance
You probably think you are the smarter real estate developments but it does not hurt to verify if you are right. Most of the times you might find in the area similar developments, whether if it is townhouses, units, commercial property, most of the times it is easy to gather information about the local property performances, is it selling fast? Is it vacant?
Identify if the suburb is a young or mature suburb and identify if the developers are in the area already buying the land or if they are actually already building real estate developments, which might saturate the market and reduce the interest of possible homebuyers.
Values of the area
Sometimes the value of a suburb is strongly affected by the social perception of the area, if the perception is not so positive you might think twice as these suburbs have a time on which maybe because it is close to the city business district or a major development like a big factory it might have a positive flip and the values of the property in the area might have a great growth opportunity.
ROI for buyers
Identify if one of your real estate properties will offer a positive Return Over Investment for the buyers either for appreciation or for the possible future new constructions around the area or if the rents are increasing that could be a great selling point for your development.
Profitable property management
This concept might be a bit ambiguous but the idea of making a profit is to be able to keep retrieving to your home/unit buyers more benefits by living or owning a property with a proper property management which is self-sufficient and well administrated, full filing the real estate development needs and listening to their suggestions.
If you follow this idea you might be able to create a great environment in your real estate developments that will attract to your developments right tenant or owner, which will always want to live in it.
*Alain Falcon Empire Leads is a master in the business area and has brought to the real estate industry great expertise and knowledge which sells faster your development.
If you have a Project struggling to get the right ROI don´t hesitate to contact him email@example.com
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