Land subdivisions can be a complicated process. It is especially so if you have not conducted a land subdivision in the past. Below are some interesting tips to help you as you subdivide your land.
1: Always Check The Law
Double-checking the law is an overlooked yet vital aspect of the land subdivision process. Local council planning regulations may prohibit subdivisions if your land is below a particular size. Besides, local council officials may need to conduct a visual inspection to ensure the subdivided plots will have adequate drainage and access to amenities such as water, roads, and electricity. Check the licenses required to subdivide the property. For example, you could need a permit to connect water, electricity, and gas.
2: Conduct A Market Survey
Most people will subdivide their land since several small parcels are easier to sell than a large plot. Besides, the smaller lots will bring more profit. Before commencing subdivision works, it would be wise to conduct a market survey to understand the following:
- How much will the subdivision cost?
- What is the market price of each of the new parcels?
- How can you increase the value of the plots? For example, you could install security lights, a perimeter fence, or recreational spaces.
- If you intend to develop the property, what kind of developments are most profitable in the area?
- Would banks be willing to finance your venture? If not, are there any real estate development firms that would be interested in your venture?
Hire an experienced land development consultant to conduct a market survey. It is a sure way to avoid inaccurate details that might result in future losses.
3: Work With Professionals
Land subdivisions begin with a survey to determine the boundaries of the property and those of each plot. The surveyor will also make allocations for roads, recreational areas, walkways, and drainage systems. Most land surveyors will also handle the paperwork associated with the subdivision process. The surveyor will constantly communicate with the local council to ensure the subdivision meets the required standards.
A subdivision contractor will handle construction works at the site. For instance, he or she will conduct excavation and grading works to create access roads to the new development. The contractor will also install water, electricity, and drainage systems. Besides, he or she may have to erect fences and conduct landscaping works to make the property attractive.
People that wish to subdivide their property should check local laws, conduct market surveys, and work with subdivision professionals.