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Residential Real Estate Development

This guide delves into the essential aspects of residential real estate development, including identifying market gaps, price ranges, and lifestyle considerations. We explore unique product offerings, location advantages, and necessary amenities to ensure competitiveness. Additionally, we discuss site selection factors such as land price, school districts, utility availability, and environmental concerns. Key insights into land planning, proforma evaluation, and sales and marketing strategies are provided to maximize project success while managing costs and ensuring quality.

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Residential Real Estate Development

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Presentation Transcript

  1. Residential Real Estate Development

  2. Define a Market Need • Gaps in market • Price range • Lifestyle • Unique product • Location • Amenities • Quality of competition

  3. Site Selection • Land Price • Location • School district • Utility availability • Access • Terms from seller • Commercial prospects • Attractiveness

  4. Site Conditions • Utilities and infrastructure • Availability • Special circumstances • Easements • Power lines • Pipelines • Environmental concerns • Ground water • Wetlands or protected species • Drainage • Must retain your own drainage • Floodway and floodplain • Ground elevations

  5. Land Planning • Different markets within development • Price range • Lifestyle • Zoning • Lot density • Size of lots and parcels • Efficiency of layout • Collector streets • Cul-de-sac

  6. Proforma • Time line • Total project length • Phasing lots which affect tax and special • Lot prices • Lot premiums • View out, Walk out lots • Specials cost • Maximize without getting monthly out of line • Specials buy downs • 20 year specials • Real estate taxes • Agricultural deferral • Based on discounted cash flows values

  7. Proforma • Amenity package cost • Adjust to price range • Adjust to the target market • Landscaping • Berms, sprinklers, trees, sod, water wells, • Monuments and Art • Engineering • Financing cost • Management fee • Legal fees

  8. Sales and Marketing • Builder program • Developer commits to holding lots • Builder commits to building model and specs • Picking builders • Strong financially • Easy to work with • Know the builders strength and match to your project • Value • Quality • Models mix and spec house rules • Full complement of plans and prices within the range • Sales • In house so don’t compete with outside realtors • Control information going out • Agent doesn’t get distracted with other outside listings

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