Property Development is on the rise, but is it worth the investment?
A Viable Career Choice
Becoming a property developer is an attainable goal for anyone. The UK housing market has encouraged new and established property developers to build. Over 160,000 new builds were registered in 2017, the most since 2007.
“Property development represents a unique opportunity for making low investments for substantial profits.”
Property development can provide you with a stable and constant revenue stream if done correctly. There are numerous factors you should consider before going ahead with property development. This includes:
- The importance of finance and planning is paramount in ensuring the property development goes smoothly and most importantly, is profitable. Explore various ways of raising finance for the property. Plan, plan and plan ahead.
- Research and Understanding the Local Housing Market. Whatever area you decide to invest in, never go by just the UK averages. Research extensively the local area. Areas such as Croydon are benefiting massively from massive investments and developments.
- Project Management. Property development is a demanding task. However, it’s all achievable through careful planning. Ensure deadlines are realistic. Get constant updates on your contractors. Develop a project timeline alongside your budget.
What Next Steps Can I Take?
There isn’t any training or qualifications needed for becoming a property developer. Experience is the best way to learn and understand how to undertake property development.
“Building your property portfolio can be extremely rewarding and can help achieve personal and financial goals.”
There are various guides available that can provide a helpful insight into the world of property development. From analysing to key areas to covering the best architectural companies to use, the internet is your best friend in helping you prepare yourself for property development.