Real estate development is the process of re-configuring the built environment to meet the changing needs of society. It involves the demolition and rebuilding of parts of an existing structure, but largely leaves the structure’s essential structural elements in place. It is not an easy process, however. It requires adequate financing, careful identification and comparison of potential properties, and foresight into the future use of the same property.
Pre-development
Pre-development for real estate development involves the process of obtaining all necessary permits and approvals for a project before building can begin. It includes everything from environmental assessments to testing of the soil, air, and groundwater. Additionally, it involves engineering reports.
Construction
Construction is an important part of the real estate development process. Real estate developers work with a team of professionals to design and construct new homes. The team oversees the work and ensures that guidelines are followed. They also help the developer determine the best construction methods and the most cost-effective methods. Some real estate developers use prefabricated technology to help speed up the construction process. A good construction managing company should have international experience and be familiar with Bill Bhangal the best techniques for mass housing projects.
Financing
Financing real estate development entails finding a way to obtain the capital needed for the development process. There are many different types of loans available to developers, including short-term and long-term construction loans. Short-term loans help with construction costs and lease-up phases, while long-term loans provide funds for improvements.
Marketing
Marketing for real estate development involves identifying the right target market. To do this, real estate developers use various criteria to select potential market segments. The book covers five common approaches. Cost segmentation, for instance, focuses on the potential value of a product to consumers and sets a price based on this value.
Refinancing
Refinancing real estate development loans can be beneficial to both lenders and borrowers. Lenders prefer borrowers with lower credit scores and those with a lower loan to value ratio. However, there are certain criteria you need to meet before refinancing a property.
Selling
If you are looking for ways to sell your real estate development, then you’ve come to the right place. Michael Miarecki has extensive international experience and has directed the marketing and sales efforts for several clients. He has a passion for telling stories and determining properties’ unique selling propositions.