Due Diligence on development opportunity

Hey PC, common feedback for a good investment is often buy a property on a lot big enough for future development (e.g. 3/4 townhouses) or additional granny flat.

With the exclusion of the typical DD (location, jobs, various indexes, growth etc.) what`s your check list? Do you start from the council requirements? Do you have a chat with you architect before making an offer?

I am trying to develop a checklist to tackle the perfect lot size

Thanks everyone.

 

Learn the design codes off by heart, inside out and back to front.

You can the get the property's zoning and know immediately what MAY be possible.

Blacky

 

If I am to assume that you don't do it regularly then I would say that at the least you should have it checked out by a surveyor and a town planner during your DD period that you specify in the contract.

This all comes after you have decided on what you want to do/think you can do on the property.

 

Thanks guys, it looks like it is not an easy and quick process. For not experienced people (e.g. me) maybe worth to pay someone then

 

Learn something about the codes yourself. Then when you spot something use services like @RPI that provide a quick assessment for a small fee. Perhaps faster than going to council.

Also read DAs in the area you are interested in. That will give you some idea of what is possible.