development is the process of taking land from a certain condition, and
changing the landscape, changing lot lines, creating additional lots
and/or changing zoning for the betterment of value.
of existing structures, clearing trees, changing the topography,
installing utilities such as water, sewer and electricity and changing
zoning are a few examples of land development.
development is not for the beginner. In most situations, the investor
pays cash for all land development purchases and improvements.
development can take years to complete and requires many processes,
hearings, and legal and professional services to complete the process.
Ultimately, depending on what you wish to do, your changes may not be
approved as desired. It is possible, if the seller is willing to wait,
that a contract to purchase is contingent on gaining development
approvals. In most cases, the seller is offered a premium to wait.
first step in land development is to secure a property with a purchase
contract based on a feasibility time period. In this time period,
you'll meet with government officials to get their opinions on what you
are trying to do, as well as meeting with engineers to gain time tables,
costs and probability facts. You will also do a market analysis at
this point to help ensure what you want to do is needed and or wanted.
Sometimes neighborhood resistance can cause delays and/or prevent
development from happening.
Feasibility, acquisition, design, financing, construction and marketing are just a few considerations of the land development process.
My Home Tracker
- Save your favorite homes
- Get new property alerts
- Share with friends and family
Home ValuesFind and compare local neighborhood home values