Property development, or real estate development is a completely different kettle of fish to property construction. In the majority of cases, property developers will invest in a pre-existing property and renovate or refurbish it in order to sell or lease the property at a profit once the work is completed. In some cases, property development can also refer to the purchase of raw land for development and will often include some construction work. Property developers usually act as the orchestrator behind the vision rather than actual physical labourers, and as such will typically employ or work with a variety of other experts including architects, builders, town planners, surveyors, inspectors and more in order to achieve their objectives. These objectives will always include adding value to the property in one form or another, either in terms of re-sale value or the amount of rent that can realistically be charged to tenants. Ali Seytanpir is one individual in the field with a passion for property development. Not content to simply spend his professional life developing property, Ali Seytanpir dedicates a large proportion of his down time to learning more about the subject and honing his skills in the field. Those who want to find out more can follow Ali Seytanpir on Twitter.
While it may seem relatively simple to purchase a property, refurbish it and sell it on or rent it out at a profit, the industry is rife with pitfalls for the uninformed. One of the biggest mistakes amateur property developers make is choosing a house in the wrong location. Anywhere on or near a main road or without decent transport links, for example, is not likely to have a strong market appeal, even if the area as a whole is up and coming. Additionally, some building companies have a reputation for fleecing the inexperienced, so beginner property developers should insist on fixed-price contracts and should vet their builders to make sure they have positive reviews from past clients. Property developers should also be sure to have all the planning and paperwork in order before beginning a project. A good property developer will also consider elements such as targeted development based on social demographic, the local economy and the identification of those improvements that will add the most value.