Interested In Developing Your Land?
Through years of specialising in developments and project marketing, the team of real estate experts at Professionals have carefully assembled a network of property development specialists. They are here to understand your goals, introduce you to consultants and assist where they can to help you achieve your best possible outcome, every time.
If you own land that you think may be suitable for development, Professionals can connect you directly with experts in the field who can help you develop that land, or with interested parties if you would prefer not to take on the added cost and risk. There are many developers who are constantly looking for future opportunities to improve housing opportunities in the Wellington region.
Are You Sitting On A Development Goldmine?
There are a variety of factors to consider when assessing land value. The orientation and boundaries of a property, the contours, shape factor, neighbouring properties, drains, services, and more all contribute to what you can do with your property and the value a potential developer will see in it. Certain aspects will add value, others not so much.
Professionals will identify the redeeming features and opportunities they can see in your property and advise what potential developers are likely to pay for it.
How Large Does The Land Area Need To Be In Order To Be Considered For Development?
Each Local Body Council has its own District Plan. The District Plan rules identify what you can and can’t do as of right with your land. Professionals can help you navigate the zone rules specific to your property.
Does Location Matter?
Not all land is equal. The value of property changes with the zoning. Professionals can advise what potential a property has under the current zone and also discuss what they know about the potential to change the zone or to apply for a discretionary or notified use.
How Could Selling Land Impact My Taxes?
If you are considering subdividing your property you should first get expert accounting advice. For example, just because you own a site suitable for development, it doesn’t mean your net cash position will be better by doing so. If you own a property that is now worth considerably more than you paid for it, and didn’t purchase it with the intention of developing it, you may be able to sell it with a tax-free capital gain. This advantage could be lost if you subdivide the property as the IRD could deem that you are a person ‘in trade’.
Is It Better To Sell Land As One Unit Or As Separate Lots?
Some property has the potential to be subdivided into many small lots, but just because it can be, doesn’t always mean this is always the most profitable option. It is critical to discuss the returns that a variety of options could give, including sometimes subdividing the land and selling it as vacant lots.
Who Will Pay The Most For My Property?
A lot of property is now worth more to a developer than it is to an owner-occupier. When appraising your property, Professionals will advise the approximate price that either would be willing to pay.