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what is my land worth to a developer

What is my land worth to a developer?

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What Do Property Developers Want From My Land?

Having an impressive piece of land fills you with great confidence that it is worth a lot of money to developers, especially with the current surge in housing requirements needing a huge influx of new build developments to meet the demand. So, “what is my land worth to a developer?”.

Before you start setting your sights on lofty expectations for your land, you need to take a step back and understand exactly what property developers are looking for from your land and if you meet the criteria. Managing your expectations and knowing what makes the mind of a property developer tick helps you to provide them with the resources that will make you both walk away happy with the transaction.

Land – Not Homes

First of all, a property developer has interests in your land, its size and its location. This is deemed more important than the house that sits on top of it.

The reason for that is because most property developers will remove the existing building to make way for new-build developments. The existing developments and the improvements that have been done to it will not be in the interests of the person with the plans for your property. What they will want to focus on are the things that can impact their overall plans, such as sloping blocks that can hinder development, as well as street access or width to the roads that could have a negative appeal.

It’s All Business

For developers, the purchase of land to plot the development of housing comes down to good business. Whilst you may want to play the scales when it comes to how much you want from the land, residential property developers will always work to a budget with cost concerns.

The figures have to work on their end and that has to play along with the land being profitable for them in the long run. Developers have to have cost as their main focus – and not just in the cost of construction.

Excavation and demolition are quite significant costs, including removal of any potential asbestos. When looking over all of your land and what it will take to successfully build new properties to sell, they factor in a lot to what it will cost them.

Restrictions

Your land will also be inspected to see if restricted zones are within proximity, which could play a factor in its appeal due to a limit on how many developments could be built within the area.

Your land could fall next to heritage listing or local environmental or tree protected zones, which have an impact on their appeal and the size of development that can be undertaken.

At Virtu Homes we are interested in land for development, and we work with the owner to make the deal mutually beneficial to both parties. If you’re wondering “what is my land worth to a developer”, contact our acquisitions team today to discuss your land.

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I couldn’t be any happier with the work of Virtu Homes with the supply of my husband’s and my dream house. After talks with so many other firms who could not identify the right feel for our intended home, we were completely bowled over by the professional practice in providing the home Virtu has. Minimal fuss and we moved into an incredible house with ease. Virtu Homes we strongly recommend as the go-to business for the best living.

Just genius. Everything that was provided to us by the team at Virtu Homes was 100% on the money and we are greatly satisfied with the results of our new home. We have a lot of guests usually and by taking into account our many family gatherings, they were able to provide a stylish and spacious home fit for a royal visit, let alone our own. Highly recommended.

I cannot fathom the amount of work put in by Virtu Homes over the time in securing the perfect home for my family. After the first initial meetings we are always skeptical that something would always put the spanner in the works in getting the home we wanted. Virtu Homes not only listened to everything we wanted in a home but also went far beyond with the final product. Absolutely wonderful people who have done everything we could have hoped for in providing our beautiful home.

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