Land development can be lucrative when it is executed the right way.
To succeed in land investment projects, buyers of raw land seeking to build to sell homes, commercial buildings, or other structures or facilities must work with a land development company through a 3-stage process to get to that point where real estate sales are possible.
Each of these three stages involves different types of land development services and contracting with different development professionals.
Land Development Stage 1 - Pre-Development
The pre-development stage of land development is the important, yet most skimmed-over part of the whole development process.
Pre-development involves not just locating a piece of land to build on, but then working out all the details to ensure that the land is suitable for the type of project it is being purchased for.
Project owners must work with land development services to first scout and assess properties, then develop construction budgets and preliminary plans based on achieving project goals on that property.
Only once there is a feasible plan in place and zoning has been addressed should any land purchase be finalized.
Once it is, the more detailed project planning can begin and building permits can be obtained.
Land Development Stage 2 - Construction
The construction phase of every project is where land development companies begin actually turning that raw land into something using all of the pre-planning done in Stage 1.
The complete physical land development process begins with land clearing and site preparation, then continues with building construction, utility installation, road paving, and site completion.
Naturally, this stage of the process is the longest one and involves the efforts and cooperation of multiple contractors in various specialties to bring the whole project together.
Land Development Stage 3 - Post-Development
By the end of the second stage of the project, land development services in all forms will have completed their work and the project will be near completion.
After quality control is executed and the final efforts assessed, the project can then go into use as whatever its designated form is.
For some project investors who went through this process with their land development companies, the end goal is to sell homes to private buyers.
For others, it is to lease commercial space to retailers and other business owners.
Regardless, the final stage of the process is delivering the completed property so that it can become income-generating in whatever way it was intended.
Discuss Land Development With An Experienced Contractor
Before purchasing any lot of land for a specific purpose, hopeful building project investors should first find an experienced land development service to assist them from the start.
Proper land development within a project owner’s budget and specifications starts with careful land research and the purchase of the right plot.
A local land development company that has researched, worked, and completed other similar projects and has a good reputation for their work is the best partner that any developer could partner with in their efforts to turn raw land into a beautiful home, a residential neighborhood, a commercial center, or anything else!