A grouped housing project can be one of the most profitable investment property development options.
With that in mind, it can also be one of the most complex, which is why our property development team at Summit has compiled these property development tips for a successful group housing venture!
First, let’s consider what defines a ‘group housing project’.
Generally speaking, group housing projects are those investment property developments that comprise three or more homes on a block.
This block has been subdivided with the new dwellings likely sharing some amenity such as parking.
Group housing property development tips:
- Is a group housing development the best investment property development for your situation?
Taking on a group housing project is complex, meaning you will need to partner with a property development professional who has a deep understanding of current R-Codes and zoning in general.
At Summit, we are well versed in Perth’s local council requirements and restrictions and will be able to advise if a grouped housing project is possible on your land.
- Choose home developers with specific group housing experience
Not all homes developers in Perth will be experienced in group housing projects. At Summit, we’ve been delivering group housing developments for over 40 years, which is your assurance of a well-planned and well-executed group housing project that maximises your value for money.
Do your research and find a property developer who delivers on their promises for quality, value and efficiency. In addition, check whether the home developer offers smart finance in-house.
This way, you can also develop your investment property finance strategy under the same convenient roof.
- Let time work its magic
While some group housing projects can deliver fast profits, slower long-term growth can sometimes be more profitable overall.
Therefore, it’s little wonder why group housing property development tips can suggest hanging onto the dwellings and renting them out if possible, rather than trying to sell them straight away.
Speak to your financial advisor to see the best strategy for your grouped housing project.
- Investing in property with group housing? Partner with Summit Homes!
With close to four decades experience in group housing developments, we can proudly offer end-to-end investment property development solutions.
This includes smart finance options thanks to our in-house Westgate Finance team.
Speak to our investment property development team about customising your group housing project design for you.