Call us on +44 (0) 1273 627900 Email us on talk@ready2invest.co.uk Look at our website www.ready2invest.co.uk

Property DevelopmentTop tips for property development

1. Do your researchResearch everything from the location, local market, builders, plumbers, electricians as well as everything abuot your property. This way there are no hidden shocks along the way.2. PlanningIIf you have done your research then you can plan your property development, taking into consideration everything that you have learnt. For example, your research might have shown that your buyer is likely to be a young professional. If this is the case, then you might decide upon a wet room instead of a standard bathroom.3. Ask the expertsTalk to the experts and they can advise you on how much things are going to cost and whether things are possible.44. BudgetSticking to your budget is extremely important and the only way that you are able to do this is if you do your research and planning to begin with. However, all the planning in the world and research cannot prepare you for what the weather (for example) might throw at you. Therefore, you should always have a contingency fund available.5. Managing your property developmentYYou can manage your own property development or you can get in an independent individual. You will also need to have JTC drawn up for formalise any relationships between people and firms working on your property. This covers you for any eventuality outlining what is expected from each party.

Fundamentally your property should be desirable and give you a profit and the key is research and planning.